If the pandemic has shown us anything it’s that the future cannot be predicted with any certainty – nobody has that magical crystal ball.
However, come what may, we are committed to striving to ensure all pension savers are protected and the start of 2022 presents an opportunity to look forward to what the new year will bring to workplace pensions.
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.
Over the past 15 months we have all been tested like never before. The immediate financial pressure on employers, as well as the logistical challenges of a country plunged into lockdown presented a significant risk to savers.
Clear, quick, tough. That’s the regulator we have worked hard to become, and the new powers awarded to us under the Pension Schemes Act 2021 support that approach as we all strive to make pensions safer, better and greener.