Funds that an employer has already put into a solvency fund are protected in bankruptcy, and they go to fund pensions. Amounts due from the employer to the fund that have yet to be remitted, such as a payment due on Tuesday after a company failed on Monday, are also given priority in bankruptcy. It is not the case, however, that the full unfunded amount on the solvency calculation, should there be any, ranks ahead of other creditors.
On November 3rd, 2009. See this statement in context.