BENEFIT PROTECTION: PRIORITY CREDITOR RIGHTS FOR PENSION FUNDS.

The article reports on the challenges faced by retirees concerning the granting of pension fund priority rights in Organisation for Economic Co-operation and Development (OECD) member countries. It states that pension fund priority rights allow beneficiaries to claim their retirement income within the bankruptcy of the corporate plan sponsor or insurance company. It was observed that restructuring of bankruptcy laws and the influence of other financial creditors contribute to the development of problems. It states that the development of laws and regulations to support beneficiaries in times of insolvency of plan sponsors should be considered.