Representation:

where an employer is insolvent and the assets of its pension schemes are insufficient to pay pensions in full, EC law protecting employees in the event of insolvency of their employer does not require accrued pension rights to be funded out of State funds and although a degree of protection is required it is not necessary that they be funded in full.

For relevant general notes see European Law/DIRECTIVES etc/insolvent employer and/or Insolvency/government guarantees on insolvency of employer/pension contributions .