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A majority of industry professionals anticipate the new defined benefit (DB) funding regime will have an impact on their scheme, according to Lane Clark & Peacock (LCP).
The industry is largely supportive of The Pensions Regulator’s (TPR) long-awaited defined benefit (DB) funding code consultation, but concerns have been raised over the need for “such detailed regulation”.
The Pensions Regulator (TPR) has launched a consultation on its draft funding code of practice for defined benefit (DB) schemes.
Exactly a year ago, I blogged that the underpinning principle of our revised defined benefit (DB) funding code was that schemes should have the necessary long-term funding approach to ensure savers have the best chance of receiving the benefits they expect.
After a year which saw the seismic shock in the market and the unexpected impact that can have on pensions the pensions industry can look forward to a year of consolidation and de-risking but more importantly stability.