New DB funding
regime - action list for trustees


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 trustees to consider.

Here is our view of the key actions trustees should consider undertaking, both immediately and as part of your next valuation. Other resources which would be of interest to trustees 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.
  • A covenant-focused checklist for trustees to help you navigate the new regime as a whole.

Read the action list

The new DB funding code – a whole new world for covenant advice

The new DB funding code – a whole new world for covenant advice

On-demand webinar

Watch our on-demand webinar as we take a deeper look into the covenant aspects of the proposed Code and its underpinning draft DWP Regulations.

Watch now

How we can help

We provide individual and high quality actuarial advice, taking a collaborative approach between trustees, employer and advisers, to ensure a focus on good member outcomes.

We help trustees understand and monitor the employer covenant.

We are market leaders at each stage of de-risking, including journey planning, investment strategy, transactional services and wind up.

We help make governance simple and effective so that you can make decisions and act on opportunities quickly.

We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme and help them put together a plan to get there, including how to effectively manage the risks they face along the way.

We help trustees achieve their strategic goals, with solution-led, appropriate advice.