As widely reported in the media, the UK economy has been through significant turbulence recently.
Continue readingRefreshed guidance for trustees in challenging times
Funding defined benefits
Trustees: engage with us promptly if your sponsoring employer is in difficulty
Like others, we welcomed news that the trustees of the two Arcadia Group pension schemes have agreed a buy-in with Aviva, securing benefits for 8,800 members of the schemes.
Continue readingLong term funding remains key as we prepare to launch our second draft DB Funding Code consultation
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.
Continue readingMerger and acquisitions: company directors must help pension trustees protect savers
Our role is to protect pension savers, and we pay close attention to mergers and acquisitions involving UK companies which sponsor a DB scheme, particularly those which are highly leveraged.
Why it is important to keep asking questions about investment strategies
I heard it said, not so long ago, that TPR asks ‘silly’ questions. I’ll take the compliment, though I doubt one was intended. It’s one of the nice things about life here, that I get to ask questions. I’ve never (yet?) been so blunt as to ask: “Dear Trustees, what on earth were you thinking of when you set that investment strategy?” But it goes through my mind sometimes, based on pre-meeting paperwork.
Continue readingRefinancing in the current economic climate: our expectations of trustees and sponsoring employers
As much of the business world seeks to bounce back from the COVID pandemic, new macroeconomic challenges are presenting themselves that may make refinancing more challenging for sponsoring employers. In his latest blog, David Fairs considers the risks of refinancing to the employer covenant and the actions trustees and sponsoring employers should take to ensure member benefits are protected.
Continue readingDB Code: Taking the time to deliver the right funding measures
The underpinning principle of our revised DB Funding Code is that schemes should have the necessary long-term funding approach to ensure savers have the best chance of receiving the benefits they expect.
Continue readingDB funding code: busting a few myths
David Fairs reflects on the responses to our first DB funding code consultation and busts a few myths.
Continue readingAct fast to secure schemes when sponsors see distress
The economic road ahead looks bumpy. Mike Birch, TPR’s Director of Supervision, tells defined benefit trustees how they can prepare and what to expect from the regulator
Superfunds: How we are working to protect savers
At The Pensions Regulator, we support innovation in the pensions industry and continue to be clear about the importance of long-term planning for DB schemes.
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