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minimum funding requirement


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In the UK, the legal requirement that the assets of an occupational pension should represent at least 90% of its liabilities at any time. Since the liabilities and assets of a fund relate to future obligations and returns, both depend on certain actuarial assumptions about the future and thus may fluctuate from year to year. The MFR was introduced as a provision of the Pensions Act 1995 and came into force in 1997.

Subjects: Financial Institutions and Services — Accounting.


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