26 September 2007
The extent to which trustees and employers have embraced the
scheme funding regime has been revealed in an analysis of recovery
plan data published by the Pensions Regulator today.
Findings from the analysis show:
- a recognition amongst trustees and employers of the need to make
prudent assumptions for the calculation of technical provisions -
with average technical provisions coming out close to the FRS17
accounting standard and above s179 levels;
- around one-third of plans did not 'trigger' further action by
the regulator
- due regard is being paid to the regulator's Code of Practice
with schemes acknowledging the principle of reasonable
affordability in their plans to eliminate deficits;
- more than 80% of schemes are producing plans no longer than 10
years in length, with an average plan length of 7.5 years
Further details can be found on the TPR website here:
http://www.thepensionsregulator.gov.uk/mediaCentre/pressReleases/pn07/pn07-14.aspx
