UK Statutory Instrument SI 2024/462 United Kingdom

The Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024

These Regulations make provision relating to the funding of occupational pension schemes to which Part 3 of the Pensions Act 2004 (c. 35) (scheme funding) applies. They implement the amendments to that Part made by Schedule 10 to the Pension Schemes Act 2021 (c. 1) (funding of defined benefit schemes).

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Enforced by
TPR
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Trustee2

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Trustee — also bound by 104 other Acts
Charities Act 2011 27 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.009 Actuarial methods and assumptions for purposes of funding level Regulated
  • Use accrued benefits funding method and low dependency basis for funding levelTrustee
19 other provisions — procedural and definitional
s.001 Citation, commencement and extent
s.002 Interpretation
s.003 Review of these Regulations
s.004 Scheme maturity
s.005 Low dependency investment allocation
s.006 Low dependency funding basis
s.007 Strength of the employer covenant
s.008 Relevant date
s.010 Consistency of assumptions
s.011 Matters and principles
s.012 Funding and investment strategy – level of detail
s.013 Determination, review and revision of funding and investment strategy
s.014 Supplementary matters
s.015 Review and revision of Part 2 of a scheme’s statement of strategy
s.016 Requirements for chair of trustees
s.017 Part 2 of a scheme’s statement of strategy – level of detail
s.018 Form of statement of strategy
s.019 Statement of strategy to the Regulator
s.020 Amendments to the Occupational Pension Schemes (Scheme Funding) Regulations 2005
Schedules

Schedules

1 of 20 shown
s.sch001 Matters Regulated
  • Consider actuarial maturity and low dependency investment in funding strategyTrustee
19 other schedules
s.sch001 Principles
s.sch001 Minimum requirement on and after the relevant date
s.sch001 Risk in relation to calculation of liabilities on journey plan
s.sch001 Liquidity
s.sch002 For the purposes of section 221B(2)(d) of the Act, the...
s.sch002 Liquidity
s.sch002 Employer covenant
s.sch002 How long it is reasonable to rely on this assessment....
s.sch002 General
s.sch002 Confirmation that the trustees or managers have consulted the employer...
s.sch002 Any comments that the employer in relation to the scheme...
s.sch002 Actuarial valuation and recovery plan
s.sch002 If a recovery plan has been prepared or revised in...
s.sch002 Maturity
s.sch002 Where, in accordance with regulation 4(5), the trustees or managers...
s.sch002 For a scheme which has not reached the relevant date,...
s.sch002 Investment risk
s.sch002 For a scheme which has not reached the relevant date—...
s.sch002 For a scheme which has reached the relevant date, how...

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