Pensions Watchdog Rejects Criticism Over Funding Reform

Law360, London (May 18, 2020, 2:35 PM BST) -- The Pensions Regulator said on Monday it "strongly disagrees" with critics of its proposed funding overhaul for defined benefit schemes, as advisers warn that industry support for the changes is weakening.

David Fairs, executive director of regulatory policy at the regulator, said in a blog that the COVID-19 pandemic means the need for changes in funding is needed "now more than ever."

TPR launched a consultation at the beginning of March on proposed changes to the DB funding code, which would see some defined benefit retirement schemes requiring greater oversight before their funding plans are signed off.

The changes initially received...

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