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The Pensions Regulator

Regulatory guidance

Regulatory guidance

Examples of funding documents

Under the new scheme funding framework1 trustees and managers2 are required to put in place, and revise, certain new documents. This guidance provides examples of documents which trustees may wish to use when complying with these new requirements.

The examples include typical content and suggest how this could be presented. If trustees choose to base their own documents on these examples, they can tailor them to reflect the scheme's circumstances and any special requirements which apply. This may be appropriate where a scheme:

  • is subject to rules that give someone other than the employer the power to determine the contribution rate;
  • operates cross-border within the European Union;
  • has fewer than 100 members and is not a cross-border scheme;
  • has only one participating employer;
  • is a multi-employer scheme which is segregated such that each section is treated as a separate scheme; or
  • is a shared cost scheme.

The examples take account of:

  • The Pensions Act 2004;
  • The Occupational Pension Schemes (Scheme Funding) Regulations 2005 (SI 2005/3377);
  • The Occupational Pension Schemes (Disclosure of Information) Regulations 1996 (SI 1996/1655) (as amended); and
  • The regulator's Code of Practice No.3: Funding defined benefits.

From time to time we may update and revise these example documents to take account of our regulatory experience.

Document 1: Statement of Funding Principles
this sets out the scheme's funding plan

PDF logoDownload the PDF (260kb)


MS Word logoDownload the Word version (72kb)

Document 2: Recovery Plan
this explains how the funding shortfall is being made up

PDF logoDownload the PDF (122kb)


MS Word logoDownload the Word version (30kb)

Document 3: Schedule of Contributions
this shows how much money is being paid into the scheme

PDF logoDownload the PDF (176kb)


MS Word logoDownload the Word version (41kb)

Document 4a: Summary Funding Statement (after first scheme funding valuation under the Pensions Act 2004)
this provides an update on the scheme's funding position

PDF logoDownload the PDF (128kb)


MS Word logoDownload the Word version (46kb)

Document 4b: Summary Funding Statement (before first scheme funding valuation under the Pensions Act 2004)
this provides an update on the scheme's funding position

PDF logoDownload the PDF (126kb)


MS Word logoDownload the Word version (44kb)

footnotes

1 Part 3 of the Pensions Act 2004, covering scheme funding.
2 In this guidance, the term 'trustees' is used to refer to trustees of managers.