Underfunded

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Underfunded

Describing a program, account or anything else with insufficient assets to meet liabilities, especially but not necessarily in the short term. The term is often used with respect to pension schemes.
References in periodicals archive ?
This con was tried in the 1990s when the Conservative Major government chronically underfunded the NHS.
His comments came after shadow health secretary Jonathan Ashworth claimed family doctors have been treated with astonishing neglect, and said they were overworked and underfunded and struggling to cope in the face of rising needs from patients.
Analysis of budgets allocated to GPs to pay for drugs and hospital care for their patients suggested the wealthiest tenth are overfunded by an average of more than 2% and the poorest underfunded by a similar proportion.
In addition, an increasing number of underfunded plans have been taken over by the Pension Board Guarantee Corporation (PBGC), a federal government-chartered agency that insures pensions.
Despite the new variable premium, however, PBGC admits that the insurance is grossly underpriced for those plans that are underfunded. These plans' payments currently account for only 18 percent of total premium revenues.
To counteract this threat, firms (and governments) deliberately underfund pensions so that workers have a stake in the firm's long-term survival, thus mitigating the hold-up effect.
David Cameron knew in 2010 that Wales' public services are being underfunded and could have done something about it but has chosen not to.
Without these reforms, Martire said, the state would not have the resources to add to education funding without making cuts to already underfunded human service or other programs.
They blame the Department of Health's "lack of progress in addressing the funding crisis" despite a direct appeal to Permanent Secretary Richard Pengelly and said it is underfunded "by at least PS20million".
Fred Esumeh who frowned at the chronic underfunding of the tertiary institution told journalists in Benin that education is brutally neglected in Nigeria but the case of LAUTECH is very pathetic as the institution is grossly underfunded by Oyo and Osun states, the joint owners.
Fitch notes that the state has significant spending pressures not only due to the demands of underfunded retiree benefit liabilities but also because natural revenue increases resulting from modest economic growth in recent years have gone primarily towards the phased-in growth in annual pension contributions.
The worrying rise has prompted the National Union of Students to warn their ranks are being let down by "underfunded" and "not fit for purpose" university counselling services.