CPD: Stephanie Hawthorne explains the regulator’s proposed new defined benefit funding regime and what changes schemes and sponsors can expect.

On the go: The Tioxide Pension Fund has agreed to a £430mn buy-in with Legal & General.

The government has refused to commit to increasing minimum auto-enrolment contributions, despite acknowledging that the current statutory contribution of 8 per cent is “unlikely to give all individuals the retirement to which they aspire”.

The fallout from the September market turmoil will be “wide-ranging” for UK defined benefit schemes, with regulatory changes influencing their capacity to invest in less-liquid growth strategies, according to a new report from Bloomberg Intelligence.

The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted LCP to call on the government to give more time to sponsors to adjust to the new regime.

On the go: With many defined benefit schemes advancing in their derisking plan due to higher gilt yields, WTW is expecting full scheme buy-ins to dominate a “busy market”.

The Pensions Regulator will not be collecting data on fiduciary management and investment consultants from defined benefit schemes as part of its 2023 scheme return, which can present a “gap in compliance”, experts have warned.

On the go: The rate of inflation dropped slightly in December as the price of fuel and clothing eased. However, concerns are growing that wage rises are embedding inflation into the economy.

Liability-driven investment funds sold £23bn of gilts in three weeks during the market turmoil in 2022, with pooled funds being forced sellers, Andrew Bailey has revealed.