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.
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With the Pension Schemes Bill receiving Royal Assent, David Fairs, The Pensions Regulator’s Executive Director of Regulatory Policy, Analysis and Advice, takes a whistle-stop tour of the new law and why it’s a watershed moment in TPR’s mission to protect savers.
David Fairs reflects on the responses to our first DB funding code consultation and busts a few myths.
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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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Climate change will challenge every area of our lives, including our retirements. The pension industry’s response to that challenge will determine its future prosperity.
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COVID-19 continues to challenge the pension industry. Charles Counsell, The Pensions Regulator’s Chief Executive, explains what defined benefit trustees can expect from the regulator and how to prepare as the economic impact of the coronavirus continues to hit schemes and sponsoring employers.
Over the last few weeks, calls have been made for us to rethink or abandon the first consultation on our draft DB funding code. The arguments are that it was written in different, more benign, economic conditions and it is now out of place.
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We’re all getting used to reduced freedom in the fight against COVID-19.
In my last blog, I said the world had changed with a move away from defined benefit (DB) pensions.
For much of the twentieth century, private or workplace pensions meant defined benefit.