Pensions - Articles - Free tool to help schemes prepare for tougher TPR demands


A free tool to show UK pension schemes how TPR would categorise them has been developed by Hymans Robertson. Using the principles set out in TPR’s Annual Funding Statement the online analysis is designed to help schemes understand what would be expected to fulfil the regulator’s next steps as they prepare for its “cleaner, quicker, tougher” approach.

 The ‘Segment Identifier Tool’ developed by the leading pensions and risk consultancy will use four key criteria; employer covenant, recovery plan length, strength of funding target and scheme maturity, to assess which of TPR’s segments is most appropriate. The results generated will then inform schemes what actions TPR might expect them to take with regards to covenant, investment strategy or funding.

 Laura McLaren, Partner at Hymans Robertson explains why it’s so important for schemes to clearly understand what TPR expects of them:

 “This year’s Annual Funding Statement was the regulator’s clearest announcement to date on the standards it expects from the UK’s pension schemes. The report sets out explicitly how it intends, and is willing to, intervene with schemes that don’t meet its expectations.

 “Following the high profile scandals of BHS and Carillion it’s obvious that TPR has adopted a tougher stance and many schemes have already felt the impact of this. Trustees and sponsors should act now to ensure their scheme is up to scratch on areas such as employer covenant. The existence of clear funding and investment plans will also be assessed. By identifying where the need to take action lies, schemes can prioritise their next steps and work more efficiently. This can ensure that any changes are implemented smoothly at both a strategic and operational level. Schemes which fail to prepare and act now will ultimately risk being caught on the back foot by a reinvigorated and stronger regulator.”

Back to Index


Similar News to this Story

94 percent view State Pension as an entitlement not benefit
Majority of adults aged 66+ say that Triple Lock is affordable and fair to older generations. Around one in seven rely on the State Pension to provide
Fair play off the pitch
Male players in the English Premier League earn an average of more than £3 million per year, while their female counterparts average around £47,000. T
Why Bitcoin matters to Pension Schemes
Back in November 2024, Cartwright Pension Trusts announced its role in facilitating the first-ever UK DB pension trust investment in Bitcoin. With the

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.