Revisions to MFR

At the end of last week the Treasury released its consultation paper on the minimum funding requirement (MFR) that applies to most private sector defined benefit (DB) occupational pension schemes. It was issued in parallel with a report on the MFR from the Pensions Board of the Faculty and Institute of Actuaries (comments from this report can also be viewed in this issue on IW page 67.) It also seeks views on alternatives to the MFR in the light of both the Actuaries' report and in the context of Paul Myners' review of institutional investment commissioned by the Chancellor of the Exche...