tPR's 2026 Funding Statement Summary
The Pensions Regulator (tPR) published its 2026 Annual Funding Statement on 6 May 2026. The statement is for trustees and sponsors of Defined Benefit (DB) pension schemes and is particularly aimed at schemes with actuarial valuations between 22 September 2025 and 21 September 2026 (‘Tranche 25/26’).
Whilst it is targeted at those, this year’s Statement is relevant for all DB schemes as it provides further clarification on the new DB Funding Code of Practice and reflects experience gained from the first year of operation.
DB scheme funding positions have continued to improve materially, with tPR estimating that:
- Around 90% of schemes are in surplus on a Technical Provisions basis
- Around 80% are in surplus on a low dependency basis
- Around 60% are in surplus on a buy-out basis
Click here to download Quantum Advisory's full summary
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