UK Gov't Floats New Long-Term Pension Funding Rules
By Joel Poultney (July 26, 2022, 1:26 PM BST) -- The government set out proposals on Tuesday that would require defined benefit pension plans to establish long-term funding and investment strategies in an attempt to clarify standards and support planning for the future.
The Department for Work and Pensions is seeking responses from trustees and managers of defined benefit schemes, employers and other industry professionals.
Savers will be better protected if providers of workplace pensions clarify their long-term funding plans, the government said. Reform would also help make good on legislation from 2021 mandating that workplace schemes should establish plans to guarantee that members have their pensions paid in full.
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