We aim to ensure the governance and funding positions of defined benefit schemes remain robust. The sheer size of our members’ scheme assets, grants us extensive negotiating power with Government and regulators on both current and legacy defined benefit issues.
Our mission is to achieve the right results in Europe on the IORP directive and the Holistic Balance Sheet, to help our members get value for money from their investments and their asset managers and to ensure funds and their asset managers have good governance.
Our Defined Benefit Council oversees our work on all issues that affect DB schemes.
Over the last two years, it has helped to secure a new objective for The Pensions Regulator, has led the charge in resisting EU proposals for Solvency II-style funding of DB schemes.
The DB Council’s work programme includes:
- Building the economic case for a suitable supply of assets to meet the needs of pension funds as long-term investors and to help them manage deficits in demanding economic circumstances.
- Helping schemes to increase the transparency of their investment costs and ensure they are obtaining full value from the investment chain.
- Continuing to protect our members from potential EU solvency based funding rules.