Winding up definition

What does Winding up mean?

The process of terminating an occupational pension scheme.

The assets of the scheme are usually applied to the purchase of immediate annuities and deferred annuities for the beneficiaries, or all of the scheme's assets and liabilities are moved to another pension scheme.

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Winding up is referenced 6 in Encyclopaedia of Forms and Precedents

Winding up is referenced 1 in Halsbury's Laws of England

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