Pensions - Articles - SPP issues guidance for new DB funding regime

 The Pension Schemes Act 2021 introduced a new requirement for Defined Benefit (DB) pension schemes to have a funding and investment strategy to ensure pension and other benefits under the scheme can be paid over the long term.
 
 The Funding and Investment Strategy Regulations were issued in April 2024 and apply to valuation dates on or after 22 September 2024.
 
 Sophia Singleton, SPP President, said; “The SPP welcomes the fact that the DB Funding Code has now been laid before Parliament. However, there remains a degree of uncertainty and speculation around how schemes should adjust their strategies under the new regime.
 
 As a result, the SPP has produced this concise and insightful guide, which we believe will prove helpful in assisting a wide range of pension professionals, including trustees, actuaries, pension consultants and lawyers, in better understanding what’s now required.”
  

 SPP Guide to the new DB Funding regime