The workplace penmsions industry is largely supportive of The Pensions Regulator’s (TPR) long-awaited defined benefit (DB) funding code consultation, but concerns have been raised over the need for “such detailed regulation”.
The consultation - launched on Friday (16 December) and set to run for 14 weeks - sets out expectations of final salary schemes to set a long-term objective and a journey plan to get there. The Association of Consulting Actuaries (ACA) welcomed the consultation on the new funding code, with chair Steven Taylor praising the scale and ambition of the proposals as "admirable". However, he argued: "A key test for the new code will be how it enables the continued smooth transition of DB schemes to their endgames without disrupting well-planned scheme-specific approaches or introducing new ...
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