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The areas that you need to focus on to ensure that your defined benefit pension scheme is appropriately funded.
Deciding your funding approach A key objective for trustees of defined benefit pension schemes is paying the promised benefits as they fall due. Your ability to fulfil this important aim will be enhanced if the employer supporting the scheme is successful.
Integrated risk management Integrated risk management (IRM) is an approach that you can use to identify, manage and monitor risks that can affect the funding objectives for your defined benefit pension scheme.
Employer covenant: overview As part of the funding approach for your defined benefit pension scheme, you should understand the current strength of the employer covenant and how it could change in the future.
Investment An overview of what to consider when you look at the investment strategy and governance for a pension scheme offering defined benefits.
Valuing your scheme Your defined benefit pension scheme needs to meet the statutory funding objective.
Recovery plans If your defined benefit pension scheme doesn’t meet its statutory funding objective, you must put an appropriate recovery plan in place to return it to full funding. You must submit your recovery plan to us.