Statement of strategy

Information on the statement of strategy and the data you will need to undertake your scheme funding valuation.

Trustees of schemes with valuation effective dates of 22 September 2024 and later can use the information in this section to start their scheme valuation planning and processes.

We expect to launch the new digital service enabling you to submit a scheme valuation in Spring 2025.

We do not expect trustees to complete or submit their statement of strategy now. The statement of strategy templates we provide on this page are for information purposes.

Schemes with valuation effective dates before 22 September 2024

The DB funding code of practice published in July 2014 will continue to apply to schemes with effective valuation dates occurring before 22 September 2024. Schemes with these earlier valuation dates should follow this code of practice and submit information and documentation in respect of such a valuation using the existing process with our Exchange online service.

Select the relevant illustrative statement of strategy template

To comply with the new funding and investment strategy requirements trustees must submit a statement of strategy.

The illustrative templates below outline the statement of strategy data requirements for each scheme circumstance.

In accordance with regulation 18 of The Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024, we have determined that the statement of strategy must be submitted in digital form. We expect to launch the new digital service in spring 2025.

If the effective date of your scheme’s valuation is on or after 22 September 2024 you should not use our existing digital systems to submit your statement of strategy or other valuation information. While we do not expect trustees to delay the completion of their valuation, we will not expect submission until the new digital service is live.

During this period, we will not treat it as a breach if there is a delay to the submission of the statement of strategy and other valuation documents because our digital service is not enabled.

Once the digital service is available, the information and data requirements of the statement of strategy will not change from these illustrative templates, however the final appearance of the templates is likely to differ.

Use the data and information reference

The data list provides definitions and useful information about the items on the statements of strategy.

Statement of strategy data reference and guidance (Excel 76KB)

Other information

Use the statement of strategy and data reference alongside, which was laid in parliament in July 2024.

Draft DB funding code of practice laid in Parliament (PDF, 710KB, 102 pages)

Next steps

In spring 2025, we expect to launch our digital service, which will enable you to submit your statement of strategy. Schemes cannot submit their valuations until our service has been launched.