• Assess their liquidity position and ascertain whether any increase in collateral is needed, including borrowing on a temporary basis from the scheme's employer if the scheme cannot create enough liquidity quickly.
• Review their operational processes to ensure they can react quickly to buy and sell in changing circumstances. This could involve a limited power of attorney being given to the LDI manager.
• Review the funding and risk position for any improvement in funding and the impact on pre-agreed funding triggers and longer-term funding objectives that may have been reached ahead of their target or expected position. Schemes should check if their current risk portfolio is still appropriate.
• Consider other impacts from market conditions. For example, higher gilt yields can have an impact on transfer values so trustees should monitor their current transfer value assumptions and the transfer value basis they use. Market volatility also presents opportunities for scams, and trustees should continue to follow best practice.

The Regulator concludes with assurances that it will continue to monitor the situation and will provide further updates "if needed and as the situation develops".

Alex Burghart MP, the new minister for pensions and growth, has said he will consider whether regulatory changes in relation to LDI may increase future stability, although this may well be unnecessary now that most of the tax reduction proposals in the mini-budget have been abandoned, and Liz Truss has resigned as PM.