The Pensions Regulator (TPR) has published its annual funding statement for 2019, aimed at trustees of Defined Benefit (DB) pension schemes undertaking scheme funding valuations with an effective date between 22 September 2018 and 21 September 2019 (Tranche 14 schemes).
This briefing note looks at the main messages of the funding statement. Key areas covered include Long Term Funding Targets (LTFTs), balancing risks, DRCs vs dividends and what the expectations of the TPR are.
"TPR is guiding trustees to factor a Long-term Funding Target (LTFT) into their thinking now, particularly if they are in the process of agreeing a Scheme Funding valuation with sponsors. "
The briefing will also look at what to expect in the coming months, including the adoption by the TPR of a new funding Code of Practice later this year and the steps that trustees should consider as “Brexit” looms.
To continue reading, please download the briefing note below.