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Statements

Our policy and Annual Funding Statements (AFS) arranged by year. We often issue a policy statement where we feel an area of regulation needs clarifying or prioritising. The AFS sets out our expectations for trustees and employers of defined benefit (DB) schemes.

2024 statements

Annual Funding Statement 2024
Published: April 2024
This statement is for trustees and sponsoring employers of occupational defined benefit (DB) pension schemes. It is particularly relevant to schemes with valuation dates between 22 September 2023 and 21 September 2024 (known as Tranche 19, or T19 schemes).

2023 statements

Value for money framework and DWP’s master trust review
Published: November 2023
Statement on the value for money (VFM) framework and DWP’s master trust review.

Annual Funding Statement Analysis 2023
Published: June 2023
A review of defined benefit (DB) pension schemes with valuation dates between September 2022 and September 2023 (Tranche 18 or T18 valuations).

Capita cyber security incident
Published: May 2023
Statement on the actions that trustees should take if their pension scheme is affected by the Capita cyber security incident.

Annual Funding Statement 2023
Published: April 2023
Particularly relevant to DB schemes with valuation dates between 22 September 2022 and 21 September 2023 (Tranche 18), as well as schemes undergoing significant changes that require a review of their funding and risk strategies.

Supporting defined contribution savers in the current economic climate
Published: January 2023
This statement is for trustees of defined contribution (DC) schemes and their advisers. It sets out the main points on how schemes should communicate and support savers through this period.

2022 statements

Regulating pensions and retirement income: FCA/TPR regulatory strategy update
Published: December 2022
This document provides a high-level update on the FCA/TPR 2018 joint regulatory strategy for the pensions and retirement income sector.

Annual Funding Statement Analysis 2022
Published: May 2022
A review of DB pension schemes with valuation dates between September 2021 and September 2022 (Tranche 17).

Annual Funding Statement 2022
Published: April 2022
Particularly relevant to DB schemes with valuation dates between 22 September 2021 and 21 September 2022 (Tranche 17), as well as schemes undergoing significant changes that require a review of their funding and risk strategies.