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On April 6, 2024, the new DB scheme funding regulations came into force, setting out the revised DB funding framework which includes the requirement for schemes to have a funding and investment strategy.
with readers working within the Retail & Leisure industries
On April 6, 2024, the new DB scheme funding regulations came into force, setting out the
revised DB funding framework which includes the requirement for
schemes to have a funding and investment strategy.
Trustees must ensure they have a funding and investment strategy
within 15 months of the first scheme valuation dated on or after
September 22, 2024. We looked at the new version of the regulations
in detail in our February 2024 briefing.
Schemes should note that transitional provisions mean that the
current statutory funding objective continues to have effect until
a scheme is required under the new legislation to have a funding
and investment strategy in place, as above.
Meanwhile, the Regulator is consulting on the form of the trustees'
statement of strategy and has requested responses by April 16,
2024. We also await the new DB funding code, which we understand
should be available in May or June this year.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
