Employer covenant

Panellists discuss the extent to which trustees should be looking to review covenants and how to interpret findings and implement changes

The Financial Reporting Council has published a list of questions to help trustees understand and challenge the advice they receive from actuaries.

Scheme trustees must ensure their scheme does not slip down the priority order of creditors after company debt repayments doubled year on year, consultants warn.

Funding deficits and employer covenant have leapt to the top of the list of trustee's concerns this year, research shows.

Significant numbers of trustee boards are failing to sufficiently and proactively monitor their sponsor covenants, Mercer research shows.

The Pensions Regulator has reinforced its concern employers are placing excessive pressure on members over enhanced transfer value exercises, outgoing chairman David Norgrove says.

Mercer has expanded its covenant consulting team with the hire of Andrew Horner from Baker Tilly and Tim Birkett from business outsourcer Vertex.

The Pensions Regulator is taking an aggressive and threatening stance with trustees who have not performed a formal covenant review, a lawyer says.

The Pensions Regulator has issued guidance for trustees on assessing, monitoring and taking action on issues relating to their employer covenant.