Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Defined benefit definition

What does Defined benefit mean? In legal practice, defined benefit (DB) refers to occupational pension benefits fixed by a formula—commonly based on pensionable salary (final salary or career average) and length of service—rather than by the amount of contributions paid or investment performance. The term is used and recognised in UK pensions legislation (including the Pensions Acts and related regulations) and in Ireland (Pensions Act 1990), with broadly consistent usage across England & Wales, Scotland, Northern Ireland and Ireland. Key features include: the sponsoring employer bears the funding and investment risk; trustees obtain regular actuarial valuations; and any deficit must be addressed through...

Section 75 employer debt regimes before 6 April 2008: triggers, MFR versus buy‑out calculations, multi‑employer cessation, withdrawal arrangements and unpaid debts — England and Wales

Published by a LexisNexis Pensions expert

Practice notes

THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL defined benefit PENSION SCHEMES IN ENGLAND AND WALES THAT ARE SUBJECT TO THE EMPLOYER DEBT requirements

ARCHIVED: This archived Practice Note reviews the employer debt/section 75 debt regimes that applied before 6 April 2008, including the Occupational Pension Schemes (Employer Debt) Regulations 2005, the Occupational Pension Schemes (Deficiency on winding up etc) Regulations 1996, the Occupational Pension Schemes (Deficiency on Winding Up etc) Regulations 1994 and the Occupational Pension Schemes (Deficiency on Winding Up etc) Regulations 1992. It is not maintained. For up-to-date information on the current employer debt regime, see Practice Note: When is a section 75 debt triggered?

The Occupational Pension Schemes (Employer Debt) Regulations 2005, SI 2005/678 (the 2005 employer debt regulations) set out how an ‘employer debt’ under section 75 of the Pensions Act 1995 (PA 1995) (or section 75A for multi-employer schemes) is addressed, covering:

the circumstances in which it is currently triggered
the method by which it is calculated
the various approaches available for dealing with the debt

The 2005 Employer Debt Regulations were first introduced with effect on and from 6 April 2005. They have not always governed the employer debt regime, having replaced:

for schemes entering winding up on...

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Chris Ransom

CMS

Chris is an associate in the CMS Pensions team. With over two years' experience, he advises a mix of employer, public sector and trustee clients on a broad range of advisory pensions issues. These include trustee and employer duties, automatic enrolment, amending scheme documentation and moral hazard/scheme funding issues. Chris' recent work has a particular focus on benefit redesign and liability management exercises. Following a six month secondment with the Pension Protection Fund, Chris also has a detailed working knowledge of the PPF levy, entry and compensation framework. Chris is a member of the Association of Pension Lawyers and is also a contributor to CMS's Pensions Law Handbook. ...

Web page updated on 21/05/2026

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