Regulator's DB code urges trustees to be 'collaborative and transparent'

The code, which was laid before parliament today, addresses the watchdog's new obligation to consider the impact of scheme funding on a sponsor's plans for sustainable business growth. It sets out nine broad principles including a call for trustees to take an integrated approach to funding, covenant and investment risks. The regulator said the code was part of a significant change in approach that recognised that a strong ongoing employer alongside an appropriate funding plan was the best way to support a scheme. TPR interim chief executive Stephen Soper (pictured) said: "The revis...