last man standing definition
last man standing concept, which means that it would only become eligible to enter the PPF in the extremely unlikely event that the vast majority (if not all) of the scheme’s employers were to become insolvent.
last man standing basis effectively means that stronger employers are having to stand guarantor over weaker organisations. These weaker organisations can continue to accrue benefits without consequence as they are effectively being guaranteed by stronger but totally unconnected fellow participants, without the stronger employers having any control over this.