The Pensions Regulator Annual Funding Statement 2020
13 May 2020
The Pensions Regulator has recently issued its Annual Funding statement for 2020. This document contains important guidance for trustees and employers of final salary pension schemes in relation to COVID-19, scheme valuations and the importance of employer covenant assessment.
Our guidance note covers the key areas of the Annual Funding Statement, highlighting important action points and takes you through six key areas:
- Scheme Funding – developing long term strategies against a backdrop of COVID-19
- Long Term Funding – setting an appropriate long term target, reducing investment risk over time
- Employment Covenant – understanding and monitoring your employer covenant
- Shareholder Distribution – guarding against covenant leakage and ensuring schemes are equitably treated
- Managing Risks – maintaining an IRM framework
- Defined Benefit Funding Code Consultation – latest on the expected timings for the new DB funding code.
We understand that every situation is different and will have its own set of challenges and opportunities. We recommend that you contact one of our experts for specific advice.
Download the guide
If you would like more information about how we can support your approach, please contact Matthew Gibson, Andrew Palmer, Ian Steward and John Hubbleday.
You can visit our dedicated webpage for more information on how we are approaching the situation.
View our COVID-19 Hub