Part 5: Further provision relating to pension schemes Scheme funding Schedule 10: Funding of defined benefit schemes Recovery plan
Paragraph 5 amends section 226 of the Pensions Act 2004 so that regulations can set out the matters to be taken into account, or the principles to be followed, in determining whether a recovery plan is appropriate for the purposes of subsection (3) having regard to the nature and circumstances of the scheme. These may include matters such as the length of time taken by trustees to meet the statutory funding objective, taking into account whether the sponsoring employer can afford to pay more into the scheme.