The Pensions Regulator

Scheme funding workshops March 2006Workshops 2007

Scheme specific funding workshops 2007

During November and December 2007, the Pensions Regulator hosted a series of free half-day workshops for over 450 trustees, employers and their advisers, demonstrating best practice when dealing with scheme specific funding requirements for DB schemes.

The workshops were designed to improve understanding of the issues surrounding funding and the implementation of scheme funding requirements. Delegates were given the opportunity to work through case studies of a fictitious pension scheme, discuss the challenges faced and come up with their own solutions.

About the workshops

Delegates were presented with scenarios based around mergers and acquisitions, economic factors and changing employer circumstances.

Three breakout sessions throughout the day allowed delegates the opportunity to discuss in groups the issues facing fictitious pension schemes with different circumstances.

At the end of each breakout, the groups gave feedback on the outcome of their discussions and their opinion as to whether the level of technical provisions had gone up or down following the scenario in question. The results were displayed on a graph; everyone started from the same position but a wide variety of outcomes occurred. This demonstrated the specific nature of factors affecting each scheme.

Key messages

• Trustees have to be prepared to adapt and react to changing circumstances

• Covenant assessment impacts on both technical provisions and recovery plans

The regulator aims to improve understanding of the issues surrounding funding and the implementation of scheme funding requirements, support trustees, employers and their advisers and show the importance of taking into account the specific circumstances of the individual scheme.

Feedback

Excellent way to develop awareness on issues – Edinburgh

A great opportunity to see the face of the regulator. Good diversity of scenarios – Birmingham

Enabled me to gain better understanding of the scenarios trustees must consider before looking at a scheme buyout – Birmingham

I enjoyed the event and will bring my experience back to the trustees of the scheme I help to administer – London

Find out more...

Trustee toolkit
our free e-learning programme, including modules on funding your DB scheme and DB recovery plans, contributions and funding principles