M

Member

Speaking in the House of Lords on 21 October 2024

Debate

Pensions Regulator Defined Benefit Funding Code of Practice 2024

Contribution

The question of recruitment is important. I recognise that in some circumstances excessive regulation or guidance could be unhelpful, but I do not believe that that is the case here. The DWP and TPR worked closely with a wide range of stakeholders, including scheme trustees, in developing the detail of the new regime. We hope that the clearer funding standards, supported by practical guidance, will support trustees to make decisions in the best interests of their members.

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