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.

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.

On the go: More than 70,000 staff at 150 universities will strike on February 1, in a dispute that includes disagreement over the valuation of the Universities Superannuation Scheme.

On the go: Engineering company KBR has appointed LifeSight as master trust provider for its 6,400 UK defined contribution scheme members.

On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.

The government actuary has called on the Pensions Regulator to start collecting more data from defined benefit schemes about their liability-driven investments, among other suggestions to increase the visibility of risks associated with these strategies.

On the go: The aggregate surplus of the 5,131 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £5.2bn in December.

On the go: The Pensions Administration Standards Association has urged master trusts to have “further discussions” with qualified advisers to guarantee they are ready for the pensions dashboards launch.