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ARTICLE · 15 JUNE 2017

TPR's 2017 Funding Statement: A Shift In Approach?

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The Pensions Regulator (TPR) has issued its Annual Funding Statement for defined benefit schemes (the Funding Statement).

United KingdomEmployment and HR
Jason Coates
Jason Coates
Suzanne Mortimer
Suzanne Mortimer
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The Pensions Regulator (TPR) has issued its Annual Funding Statement for defined benefit schemes (the Funding Statement). The Funding Statement identifies some of the key issues facing schemes with valuations in the period 22 September 2016 to 21 September 2017 (which it refers to as 2017 valuations).

The Funding Statement is aimed primarily at trustees and employers undertaking 2017 valuations, but it is relevant to trustees and employers of all defined benefit schemes, particularly the need to put in place a contingency plan. The Funding Statement is clearly influenced by TPR's experience on BHS: there appears to be a theme of putting greater pressure on employers to fund schemes more quickly.

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