SPP publishes guide on new DB funding regime

The Society of Pension Professionals has published a useful short guide to the new DB funding regime which comes into force for scheme valuations effective on or after September 22, 2024.

Under the new funding regulations, the employer covenant has been legally defined for the first time. The SPP guide sets out questions in a flowchart form which direct trustees on how to assess the employer's business prospects.

All DB schemes will be subject to the new funding regime and the guide is an accessible and recommended read for trustees of such schemes.