New DB funding regime - Action list for sponsors

In December 2022, The Pensions Regulator (TPR) published its draft Code of practice on DB funding. This is the biggest shake up in DB pension scheme strategy for almost 20 years and there is a lot for sponsors of schemes to consider.

Here is our view of the key actions sponsors should consider undertaking, both immediately and as part of your next valuation. Other resources which would be of interest to sponsors are:

• A News Alert which includes an overview of the Code consultation
• Our 11 January 2023 webinar walks through the detail and what it may mean in practice
• Our 26 January 2023 webinar focuses on the new covenant requirements