MFR reforms relieve DB scheme pressures

NAPF officials have welcomed changes announced today by the Department for Work and Pensions concerning the Minimum Funding Requirement on occupational pension plans as they reduce pressure on schemes to correct funding problems. NAPF Benefits Director, David Astley, says steps taken by the government were a move towards a more practical funding regime for hard-pressed company pension schemes. "There are significant pressures on providers of defined benefit pension schemes, which have come sharply into focus during recent weeks. By extending the time limits for schemes to make good u...