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ARTICLE · 02 FEBRUARY 2023

Pensions Planner – Spring 2023

Herbert Smith Freehills Kramer LLP
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The Pensions Regulator has launched its long awaited consultation on the draft new funding code of practice for defined benefit (DB) pension schemes.

United KingdomEmployment and HR
Samantha Brown
Samantha Brown
Rachel Pinto
Rachel Pinto
Michael Aherne
Michael Aherne
Tim Smith
Tim Smith

Quarter in review

2.1 Pensions Regulator publishes consultation on the new DB funding code

The Pensions Regulator has launched its long awaited consultation on the draft new funding code of practice for defined benefit (DB) pension schemes. The draft Code sets out the Regulator's views on how the new statutory requirements for trustees to put in place a long-term funding and investment strategy for their scheme are intended to interact with the existing statutory funding regime.

In particular, the draft code details the Regulator's expectations in relation to:

  • trustees agreeing a low dependency funding target and a low dependency asset allocation with their scheme's employer

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