An overview of The Pensions Regulator’s new DB funding code

The current DB scheme funding regime is being fundamentally reformed, with wholesale changes expected to come into force in October 2023. In July 2022, the DWP published its consultation on the draft Occupational Pension Scheme (Funding and Investment Strategy and Amendment) Regulations 2023 but they are still to be finalised. Much of the finer detail was left for the Regulator’s Code to clarify. The draft Regulations were the subject of our September briefing. On December 16, 2022, the Regulator published its second consultation on the long-awaited draft DB Funding Code, which closes on...