Focus on funding – Summary funding statements


As part of the revamped scheme funding provisions under the Pensions Act 2004, the Occupational Pension Schemes (Scheme Funding) Regulations 2005 introduced a requirement for defined benefit (DB) schemes to issue “scheme funding statements”. These statements must be issued to all scheme members and beneficiaries on the basis of the scheme’s latest actuarial valuation. The aim is to make DB members more aware of the funding position of their pension schemes.

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