First Briefing, January 2025: TPR covenant guidance

The Pensions Regulator (TPR) has published updated covenant guidance for trustees of Defined Benefit (DB) schemes. Consistent with the new DB funding code, the guidance discusses various areas in more detail. This briefing brings together the key messages.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.