Definition: Winding-up

Living conditions

The termination of a pension scheme by either providing (deferred) annuities for all members or by moving all its assets and liabilities into another scheme.
Source:
Organisation for Economic Co-operation and Development (OECD)/Organisation de coopération et de développement économiques (OCDE), OECD Glossaries/Glossaires de l'OCDE, Private pensions - OECD classification and glossary; Les pensions privées - Classification et glossaire de l'OCDE, Paris, 2005
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