A further module on defined benefit scheme funding has been released by the Pensions Regulator as part of its Trustee Toolkit.
The fifth instalment of the free e-learning programme for trustees is called “defined benefit recovery plans, contributions and funding”, and it builds on the two previous scheme funding modules which were released by the regulator in August.
In this latest instalment, DB trustees can learn about accrued benefits and future service funding methods, recovery plans, how to set the contribution rate and information about the statement of funding principles.
The module also features a series of case studies and gives trustees the opportunities to solve problems relating to the information covered, to help them improve their knowledge and understanding of the law relating to pensions and trusts following the introduction of the pensions Act 2004.
Terry Clayworth, regulated community learning manager at the Pensions Regulator, says a further four modules are still planned for the trustee toolkit, which will be useful for both DB and defined contribution (DC) trustees.
He adds: “This module provides trustees with the opportunity to develop their knowledge and understanding of the concepts underlying the new arrangements for funding DB schemes. Having this knowledge and understanding will enable trustees to actively engage with their advisers in examining the issues for their own schemes.”
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