Funding and Investment Strategy Companion Part Two: The covenant assessment

Funding and Investment Strategy Companion Part Two: The covenant assessment

20 May 2025

Formal assessment of employer covenant is now legally required for the first time as part of all defined benefit pension scheme valuations.

In ‘The covenant assessment’, part two of XPS’s FIS Companion series, we dive into the regulatory requirements, funding code and covenant guidance to explain exactly what this could mean in practice for your scheme.

With handy checklists for both trustees and employers, you will have everything you need to ensure your first covenant assessment under the new regime is appropriate and effective.

Read our XPS Funding and Investment Strategy Companion Part Two here:

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Read our XPS Funding and Investment Companion Part One: ‘Setting a long-term strategy'