DB funding regulations are laid before Parliament

The new scheme funding regulations are scheduled to replace the Minimum Funding Requirement (MFR) by the end of the month. The regulations will ensure members are kept updated about the scheme’s financial position and will require trustees to have recovery plans in place to address any funding shortfalls, as well as obtain regular actuarial valuations and have a clear statement of funding principles. Scheme Funding Regulations will supplement provisions in Part 3 of the Pensions Act 2004, and will be accompanied by a code of practice for trustees on funding defined benefits from the Pensi...