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Sponsor Affordability and the Use of Security

A recent survey of leading chief executives has highlighted their concern that spiralling defined benefit costs, the impact of market movements on funding and potential EU solvency issues are all constraining UK business performance. I am sure that a further concern for these business leaders will be the Pensions Regulator’s recent statement that he will help trustees ‘bolster recovery plans’ in 2012 – quite how, nobody yet knows. (more…)

Category : Employer Covenant — Tags: , , , — admin @ 1:21 pm January 5, 2012

Employer covenant review essential, says Pension Protection Fund

The Chief Executive of the Pension Protection Fund (PPF), Alan Rubenstein, has expressed concerns that trustees were ignoring the strength of their employer covenant. Speaking at a conference, Rubenstein said “We are carrying a lot of risk in this country and lots of schemes are backed by equities. At the moment, there is no relationship between covenants and asset risk”. (more…)

Category : Employer Covenant — Tags: , — admin @ 12:06 pm October 5, 2010

Pensions Ombudsman and PPF Ombudsman to move to the Pensions Regulator?

In the Daily Telegraph on 24 September, a leaked Cabinet Office list was published, which showed that The Pensions Ombudsman and the PPF Ombudsman would become part of a single pensions regulator. It is not yet clear what savings are to be made by moving these two quangos to Brighton. (more…)