Pension Industry Support Slides For New Funding Code

Law360, London (May 12, 2020, 3:20 PM BST) -- Support among pensions providers for a proposed new code of practice on scheme funding has dwindled over the past three months, as the implications of the changes become more apparent, savings adviser Aon has warned.

Polls had found that, despite early support for the changes proposed by The Pensions Regulator, the number of industry opinions "tending to negative" had increased, Aon said Monday. 

The regulator launched a consultation at the beginning of March on the "twin track" changes, which would see some defined benefit retirement schemes requiring greater oversight before their funding plans are signed off.

Larger funds that could provide...

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