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ARTICLE · 28 FEBRUARY 2024

Final Scheme Funding Regulations Published Today

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The final version of the Defined Benefit (DB) Funding Regulations have just been published by the Department for Work and Pensions...

United KingdomEmployment and HR
Clive Pugh
Clive Pugh

BREAKING NEWS! Final DB Funding Regulations just published by the DWP

The final version of the Defined Benefit (DB) Funding Regulations have just been published by the Department for Work and Pensions (DWP) today (Monday 29 January). Whilst the detail of the final version of the regulations is still to be worked through, it appears that they have been updated quite a bit to bring them more in line with the draft DB Funding Code and responses received from the industry during consultation.

When will them come into force?

The regulations are due to come into force on 6 April 2024 and will apply to scheme valuations from September 2024.

Brief summary of main changes

The Government's consultation response notes that it worked closely with the Pensions Regulator (TPR) in revising the draft Regulations and that it has listened to the industry's concerns, particularly around explicitly incorporating the flexibilities described in the draft Code into this updated

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