Is your DB standalone scheme ready to meet TPR's growing expectations?
TPR’s 2019 funding statement sets out how schemes should manage risk and comply with their latest guidelines.
In the funding statement, schemes are grouped into segments from A to E, with each scheme having different requirements based on:
- Employer covenant
- Recovery plan length
- Strength of funding target
- Scheme maturity
Hymans Robertson has created a tool which will help you identify where your scheme sits on the scale and the actions you should take to ensure you meet TPR’s increased expectations.
Access the tool below:
Moving to a master trust could help many schemes to meet TPR’s expectations more effectively. Citrus takes an integrated risk management approach which:
- focuses on setting an appropriate long-term objective for your scheme with a clear plan for getting there;
- aligns suitably strong technical provisions with the long-term goal;
- quantifies investment risk, ensuring the covenant can support it; and
- reduces investment risk through use of a capital efficient strategy.
Making use of Citrus’ tried and tested approach can help your scheme get in a better position to comply with TPR’s greater expectations.
How much spare time have you got to ensure your scheme is compliant?
The growing requirements mean additional time and effort from employers and trustees to ensure they’re met. Citrus reduces the additional work required from the employer and takes on trustee responsibilities, leaving employers with more time to focus on running their business.
For further information on how Citrus can help you meet tougher Regulator expectations and improve the journey to your long-term goal, please contact us.