funded on the “buy-out” basis

English to Polish Bus/Financial Finance (general) fundusz emerytlany

Based on discussions to date, it is
anticipated that the xxxx Pension Scheme will be assessed to have been in surplus on
its technical provisions basis as at xxx October 2020 and also to have been above 70 per
cent. funded on the “buy-out” basis (where the liabilities of a scheme are valued on the basis
they will be secured via annuity policies issued by an insurance company) as at that date.