Funding defined benefits

Requirements for trustees to plan for the long-term funding of defined benefit pension schemes and carry out valuations showing the current funding position.

DB funding code of practice

DB funding code of practice (PDF, 630kB, 102 pages)

Code in force: 12 November 2024.

Contains the full text of the DB funding code of practice.

This code of practice applies to activities related to valuations with effective dates on and after 22 September 2024. For activities related to valuations with effective dates before 22 September 2024, refer to the 2014 DB funding code (PDF, 401kb, 51 pages).

Watch our defined benefit funding code webinar.

If you couldn’t join us live on 3 December 2024, you can still watch the recording to gain valuable insights into the new defined benefit (DB) funding framework. This webinar provides and essential overview of the legislative requirements, our principles and expectations for trustees, and how to approach funding under the new regime.

The session concludes with a 25 minute Q&A, where our expert panel answer your key questions.