Annual funding statement for DB schemes
02 June 2015
The Pensions Regulator has published their 2015 annual funding statement for Defined Benefit (DB) schemes and also important guidance on managing requests for transfers to Defined Contribution (DC) schemes.
The 2015 annual funding statement for defined benefit (DB) schemes draws on their analysis of current market conditions and sets out key messages for schemes with 2015 valuations.
The statement acknowledges that many schemes with 2015 valuations are likely to have higher than expected funding deficits as a result of significant falls in gilt yields and outlines how trustees and employers in different circumstances can agree funding plans that protect members' benefits without undermining employer growth
Final guidance on DB to DC transfers
The greater flexibility offered to members of DC schemes to access their pension savings from 6 April has the potential to increase the number of members requesting a transfer of their benefits.
Read the final guidance which helps trustees and managers of DB schemes to manage member requests for transfers into DC schemes and conversions of benefits within the same scheme.