Much of the information provided in the previous posts from 2020 onwards remains relevant. The following update, which, for convenience, includes some of the details in previous posts, could also be useful:
• TPR’s website includes the following:
− A statement on the government’s plans for DB surpluses, which can be found at:
The Pensions Regulator is the regulator of work-based pension schemes in the UK
www.thepensionsregulator.gov.uk
− Updated guidance on assessing covenant, which can be found at:
Practical guidance for trustees of DB schemes on how to assess and monitor the employer covenant as part of an integrated approach to managing scheme risks and taking action to improve scheme security.
www.thepensionsregulator.gov.uk
− TPR’s Annual Funding Statement 2024 can be found in the ‘Statements’ area of the ‘Document library’.
− A new general code of practice:
https://www.thepensionsregulator.gov.uk/en/document-library/code-of-practice
− The new funding code of practice can be found at:
Requirements for trustees to plan for the long-term funding of defined benefit pension schemes and carry out valuations showing the current funding position.
www.thepensionsregulator.gov.uk
− TPR’s guidance on the authorisation and supervision of DB superfunds and Master trust pension schemes, together with the authorisation of Collective defined contribution schemes, can be found in the ‘Scheme management detailed guidance’ area of the ‘Document library’.
− Guidance on leveraged liability-driven investment, which can be found at:
The Pensions Regulator is the regulator of work-based pension schemes in the UK
www.thepensionsregulator.gov.uk
− Analysis of decumulation products for DC schemes, which can be found at:
This is an ad-hoc publication of decumulation products in occupational DC schemes aiming to inform an impact assessment of potential legislation in decumulation.
www.thepensionsregulator.gov.uk
− Guidance on investment in private markets, which can be found at:
This guidance is for trustees of occupational pension schemes who are considering investing in private markets.
www.thepensionsregulator.gov.uk
− Information on ESG investment, which can be found at:
A central resource for The Pensions Regulator's information on environmental, social and governance (ESG) matters.
www.thepensionsregulator.gov.uk
• The government’s website includes the following:
− Consultation on pooling local government pension scheme assets:
www.gov.uk
• The IFoA’s website includes the following:
− Information on capital backed funding arrangements and journey plans, which can be found at:
• The PPF’s website includes the following:
− Information on a possible PPF-run consolidator:
www.ppf.co.uk
− Information on its investment in productive finance:
In this blog, our Chief Investment Officer, Barry Kenneth, explains a bit more about our investment approach.
www.ppf.co.uk
• Information on the delivery of a pensions dashboard can be found at:
https://www.pensionsdashboardsprogramme.org.uk/
• News covered in The Actuary magazine which could be of interest include:
− CDC:
In the recently published report, the IFoA Collective Defined Contribution Working Party provides detailed insights and guidelines for designing a CDC scheme.
www.theactuary.com
Pension scheme members are willing to exchange flexibility in their retirement savings for a higher income, according to a survey.
www.theactuary.com
− ESG investment:
Support for shareholder proposals confronting environmental and social risks hit a record low in 2024 and reveal a “worrying retreat” by investors, campaigners have warned.
www.theactuary.com
− Surplus assets:
The UK government will lift restrictions on defined benefit (DB) schemes so that “trapped” surplus funds can be invested in businesses and the wider economy.
www.theactuary.com
