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Fast Track or Bespoke?
Which approach is right for you?
The Pensions Regulator (TPR) published their first consultation on the new DB Funding Code of Practice back in March, introducing a new twin track approach for demonstrating compliance.
Our new interactive tool will help you quickly identify whether your current strategy is more suited to the ‘Fast Track’ or ‘Bespoke’ route.
Fast track or bespoke?
Give our Fast Track tool a try now!
By combining elements such as your scheme’s employer covenant, maturity, and funding and investment plans, our tool quickly assesses how your scheme compares against each of the TPR’s proposed Fast Track tests. The results will highlight what aspects pass or fail, potential areas for improvement and what the additional cost of compliance could be.
We hope this helps you to navigate the upcoming regulatory change and to plan and prioritise next steps. We recommend you read the information below before you start.
Before you get started
You will need the following information to use this tool (approximate figures are fine, as this is an approximate model).
- Your sponsor covenant rating
- A Technical Provisions (TP) liability value and discount rate
- The proportion of your liabilities that relates to pensioners
- Current asset value, with its allocation to growth/income assets and hedging level
- Recovery plan length and annual amounts
TPR has not yet disclosed the final parameters for Fast Track, but this model can help you understand which areas you may need to focus on.
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