Funding Pace DB
The Trustees are responsible for making sure Pace DB has enough money to pay members their benefits when they become due.
To check this, pension schemes like Pace DB have an actuarial valuation every three years and regularly monitor funding in between valuations. A valuation is a financial health check of a pension scheme, which compares the value of the scheme’s assets against the cost of providing benefits to members in the future and recommends the contribution rate to be paid.
Pace DB held its last actuarial valuation in 2022. The latest funding update is sent to members each year in the Members’ Annual Report.