Pensions Watchdog To Weigh Virus Impact In Funding Change

Law360, London (January 14, 2021, 3:41 PM GMT) -- The U.K.'s pensions watchdog said on Thursday that it will reconsider its planned overhaul of funding rules for retirement schemes against the wider backdrop of economic disruption brought about by the COVID-19 crisis and Brexit.

The Pensions Regulator said that it had received overall support from the industry following a consultation last year to proposed changes to the defined benefit funding code. But concerns remain, the watchdog said 

Under the changes, the regulator is proposing a "fast track" route for pension plans whose funding plans met certain criteria, which have yet to be set  out. In return, schemes were promised minimal regulatory...

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