NW LIVE - Covenant challenges & pensions restructuring:- a trustee perspective
“TPR has been encouraging trustees to take formal, external covenant advice now for more than 10 years, however this should not be just be a triennial valuation exercise, ongoing monitoring of the financial position and prospects of a pension scheme’s employer are key. Many Trustee Boards have used the uncertainties caused by the Covid-19 to request further and more regular financial information from their employer, whether easements on Deficit Repair Contributions were requested or not. This sharing of information should be continued and used to monitor and prepare for any reduction in covenant strength. In the last few weeks we have seen Covid-19 restrictions increase, with businesses facing cliff edges in government support and an undetermined outcome for Brexit there is the expectation of a sharp rise in corporate restructurings. Where there’s a threat of insolvency for the employer, trustees need to ensure that they have plans to run the scheme on a stand alone basis. By talking through a number of case studies where Dalriada has been Trustee, Sarah will demonstrate that preparation and getting the right advice can be key to getting a solution for members.”
RecordedNov 11 202060 mins
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Defined benefit transfers continue to make headline news in the financial services industry
Sir Steve will provide an update of the recent changes in legislation, share his own views and be available for questions online
Anish Rav, Head of Client Strategy, Atlas Master Trust
Anish Rav, Head of Client Strategy, will discuss Atlas’ forthcoming white paper on whether DC consolidation has to involve compromising quality and accepting standardisation. He will explain how moving to master trust does not mean employers having to accept a ‘one size fits all’ approach, the options available for delivering a tailored solution and how each employer’s objectives can still be recognised and met.
Mark Foster, Global Head of Pensions Solutions, Aberdeen Standard Investment
In this session, Mark Foster, ASI’s Global Head of Pension Solutions, will discuss the current increase in pressure on DC schemes to consider the impacts of ESG and what approaches could be taken to better integrate ESG considerations into their default and member selected investment offerings.
The current regulatory landscape for ESG and what schemes have been doing in response to regulatory changes (as well as examples of those that have been leading the way on ESG)
The key considerations schemes need to take into account when designing an ESG strategy
Barriers to greater engagement with ESG considerations
The need for schemes to monitor the engagement and stewardship activities being undertaken on their behalf by external asset managers