The new DB funding code is expected to come into force in April 2024 – with hundreds of scheme valuations due within the following 12 months. In parallel, the Pensions Regulator (TPR) has launched its new single code of practice, which introduces additional ESG implementation and scheme governance requirements. Regulatory pressures are growing for DC schemes as well, following changes in value for money assessments and illiquid assets investments. Against this backdrop, mallowstreet surveyed over 160 trustees and pensions professionals in Q4 2022. This abridged report presents our findings on the latest industry challenges.