DEFINITION
Statutory Funding Objective

"Statutory funding objective": (SFO). Pensions. The is the name given to the pension scheme funding regime introduced for the UK by pensions legislation whereby trustees and employers must agree a funding programme specific to the scheme concerned on the basis of actuarial and other advice. According to the relevant Code of Practice, '… full funding in relation to technical provisions is the statutory funding objective'. It replaced the previous regime, the Minimum Funding Requirement.
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