Regulations which set out the requirements for defined benefit (DB) pension schemes when determining their funding and investment have been published today (29 January) by the Department for Work and Pensions (DWP).
The final regulations - the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024 - are set to come into force from April and will apply to scheme valuations from September. The DWP said revisions to the code since it was in draft stage include making clearer the flexibilities that were intended, and providing assurance that the investment in the sustainable growth of sponsoring employers' businesses is a matter to consider alongside the affordability principle. Also, making it explicit that open schemes can take account of new entrants and fut...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
