The Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024
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SCHEDULE 2 Statement of strategy – supplementary matters
Regulation 14 1 For the purposes of section 221B(2)(d) of the Act, the other supplementary matters are set out in paragraphs 2 to 15. Actuarial valuation and recovery plan 2 A summary of the information contained in the actuarial valuation to which the funding and investment strategy relates. 3 If a recovery plan has been prepared or revised in relation to the actuarial valuation to which the funding and investment strategy relates, a summary of the information contained in that plan. Maturity 4 The actuary’s estimate of the maturity of the scheme as at the effective date of the actuarial valuation to which the funding and investment strategy relates, as set out in that valuation. 5 Where, in accordance with regulation 4(5), the trustees or managers of the scheme have taken into consideration whether new members may be admitted to the scheme and the future accrual of benefits— (a) a calculation of the duration of liabilities and future accrual based on the assumptions used, and (b) the number of years of future accrual that have been allowed for when estimating the date of significant maturity. 6 For a scheme which has not reached the relevant date, how the maturity of the scheme is expected to change over time. Investment risk 7 The level of risk in relation to the intended investment of the assets of the scheme relating to the actuarial valuation to which the funding and investment strategy relates. 8 For a scheme which has not reached the relevant date— (a) the level of risk the trustees or managers of the scheme intend to take in relation to the investment of the assets of the scheme as it moves along its journey plan, and (b) how the trustees or managers intend to achieve compliance with the matter in paragraph 1(c) of Schedule 1 by the relevant date. 9 For a scheme which has reached the relevant date, how the level of risk, in relation to the intended investment of the assets of the scheme relating to the actuarial valuation to which the funding and investment strategy relates, complies with the matter in paragraph 1(c) of Schedule 1. Liquidity 10 How the investment of the assets of the scheme complies with the principle in paragraph 5 of Schedule 1. Employer covenant 11 An assessment of the strength of the employer covenant. 12 How long it is reasonable to rely on this assessment. General 13 The extent to which the funding and investment strategy is or remains appropriate. 14 Confirmation that the trustees or managers have consulted the employer in relation to the scheme in the preparation or revision of Part 2 of the statement of strategy. 15 Any comments that the employer in relation to the scheme has asked to be included in Part 2 of the statement of strategy.
SCHEDULE 2 Statement of strategy – supplementary matters
Regulation 14 1 For the purposes of section 221B(2)(d) of the Act, the other supplementary matters are set out in paragraphs 2 to 15. Actuarial valuation and recovery plan 2 A summary of the information contained in the actuarial valuation to which the funding and investment strategy relates. 3 If a recovery plan has been prepared or revised in relation to the actuarial valuation to which the funding and investment strategy relates, a summary of the information contained in that plan. Maturity 4 The actuary’s estimate of the maturity of the scheme as at the effective date of the actuarial valuation to which the funding and investment strategy relates, as set out in that valuation. 5 Where, in accordance with regulation 4(5), the trustees or managers of the scheme have taken into consideration whether new members may be admitted to the scheme and the future accrual of benefits— (a) a calculation of the duration of liabilities and future accrual based on the assumptions used, and (b) the number of years of future accrual that have been allowed for when estimating the date of significant maturity. 6 For a scheme which has not reached the relevant date, how the maturity of the scheme is expected to change over time. Investment risk 7 The level of risk in relation to the intended investment of the assets of the scheme relating to the actuarial valuation to which the funding and investment strategy relates. 8 For a scheme which has not reached the relevant date— (a) the level of risk the trustees or managers of the scheme intend to take in relation to the investment of the assets of the scheme as it moves along its journey plan, and (b) how the trustees or managers intend to achieve compliance with the matter in paragraph 1(c) of Schedule 1 by the relevant date. 9 For a scheme which has reached the relevant date, how the level of risk, in relation to the intended investment of the assets of the scheme relating to the actuarial valuation to which the funding and investment strategy relates, complies with the matter in paragraph 1(c) of Schedule 1. Liquidity 10 How the investment of the assets of the scheme complies with the principle in paragraph 5 of Schedule 1. Employer covenant 11 An assessment of the strength of the employer covenant. 12 How long it is reasonable to rely on this assessment. General 13 The extent to which the funding and investment strategy is or remains appropriate. 14 Confirmation that the trustees or managers have consulted the employer in relation to the scheme in the preparation or revision of Part 2 of the statement of strategy. 15 Any comments that the employer in relation to the scheme has asked to be included in Part 2 of the statement of strategy.
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