TPR’s David Fairs has written a blog responding to recent calls for the Regulator to review or abandon its first consultation on the new DB funding code due to the current economic situation. He strongly disagrees, believing the principles set out in the funding consultation are the right ones and arguably even more important in the light of Covid-19. He acknowledges that the parameters for the long-term objective (discount rate of gilt yields + 0.25% – 0.5% and timescale to reach that target of 12 to 14 years) will need to be reviewed in light of the change in market conditions. The end date of the consultation, currently 2 September 2020, will be kept under review, raising the possibility of a further extension.