Fitch examined the practice and
requirements of DB pension provision in
five key European jurisdictions — UK,
Germany, Italy, France and Spain — to
determine the status of the pension
creditor upon insolvency and the
accounting practice.
This analysis showed a difference
between countries where DB pensions
have historically been provided by the
private sector and those where reliance is
primarily upon the state pension scheme.
It further highlighted that where reliance
is placed upon the corporate to provide
the pension promise there are two key
ways of executing this.