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ARTICLE · 13 MARCH 2020

DB Pension Scheme Funding – Regulator Consults On Revised Code Of Practice

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TPR currently expects the revised code to come into force in late 2021.

United KingdomEmployment and HR
George Carr
George Carr
Giles Bywater
Giles Bywater
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The Pensions Regulator ("TPR") has begun its consultation on a revised code of practice for defined benefit ("DB") pension scheme funding. TPR currently expects the revised code to come into force in late 2021.

TPR is running the consultation in two parts:

  • The first consultation started earlier this week and ends on 2 June 2020. It considers TPR's proposed new regulatory approach, the principles underpinning the new framework, and how those principles could be applied in practice.  
  • The second consultation is planned for later in 2020, and will focus on the code itself.

In this legal update we highlight some of the key points arising from the first consultation.  

The full consultation document (running to 175 pages) can be found here.  TPR's stand-alone "quick guide" to the consultation (running to 15 pages) can be found here. 

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