United Kingdom's The Pensions Regulator (TPR) issued a statement supporting the government’s proposals on using surpluses in defined benefit (DB) pension schemes to support economic growth and improve saver outcomes. It noted that many DB schemes are better funded than in recent history, with around 80% of schemes fully funded. TPR emphasised that the priority is ensuring members have the best chance of receiving their promised benefits, and supported trustees and employers considering how to safely release surplus only where schemes are fully funded and protections are in place for members. Alongside the statement, TPR published new actuarial estimates covering DB scheme assets and liabilities, the number of schemes in deficit and in surplus, and a breakdown of surpluses under technical provisions, low dependency and buyout measures, as well as cumulative DB asset values by scheme size, to inform private pension policy.
The Pensions Regulator 2025-01-28
United Kingdom's The Pensions Regulator backs government proposals to enable safe use of defined benefit scheme surpluses
The Pensions Regulator (TPR) endorsed UK government proposals to use surpluses in defined benefit (DB) pension schemes for economic growth, noting that about 80% of DB schemes are fully funded. TPR stressed ensuring members receive promised benefits and supported releasing surpluses only when schemes are fully funded with member protections. TPR also released new actuarial estimates on DB scheme assets, liabilities, and surpluses to guide private pension policy.