Publication
Mission impossible? Teresa Ribera’s mission letter and the future of EU merger review
Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
DB scheme funding: funding and investment strategy regulations now in force
United Kingdom | Publication | April 2024
On April 6, 2024, the new DB scheme funding regulations came into force, setting out the revised DB funding framework which includes the requirement for schemes to have a funding and investment strategy.
Trustees must ensure they have a funding and investment strategy within 15 months of the first scheme valuation dated on or after September 22, 2024. We looked at the new version of the regulations in detail in our February 2024 briefing.
Schemes should note that transitional provisions mean that the current statutory funding objective continues to have effect until a scheme is required under the new legislation to have a funding and investment strategy in place, as above.
Meanwhile, the Regulator is consulting on the form of the trustees’ statement of strategy and has requested responses by April 16, 2024. We also await the new DB funding code, which we understand should be available in May or June this year.
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