As the employer covenant is very relevant to the funding strategy adopted in a DB scheme, it is important that trustees also have a good understanding of what influences DB pension scheme investment and funding decisions, particularly where stakeholders may have different objectives.

The Pensions Regulator has issued Code of Practice 03 Funding Defined Benefits which can be downloaded from the Pensions Regulator's website and should inform these objectives.

Slide decks

Case study - key issues to consider