New rules on scheme funding from the Pensions Regulator, must be flexible and pragmatic enough to reflect the long-term nature of pension scheme funding, claims the National Association of Pension Funds (NAPF).
In its response to the Pension Regulator’s consultation on scheme funding, which closed on 26 January, the NAPF says the Statutory Funding Objective will be a major determinant of whether employers will continue to support defined benefit (DB) arrangements and could also have a much wider impact on UK competitiveness and productivity. The consultation set out main proposals for the regulation of scheme funding, the first are the technical provisions, or funding target of a scheme, and the second is the setting up of a recovery plan for any shortfall in the funding, which in theory should ...
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