Regulator publishes blog on trustee engagement where employers are in difficulty

On March 8, 2023, the Regulator published a blog urging trustees to engage with them promptly if their sponsoring employer is in difficulty. 

The Regulator encourages trustees to seek its involvement “when it becomes clear that trading for a sponsoring employer is challenged, when the viability of a company is uncertain or if there are issues or defaults with other financial creditors”. 

The call comes in the wake of the £850m buy-in deal between the two Arcadia Group pension schemes and Aviva, which secured the benefits for 8,800 members of the schemes after they entered into a PPF assessment in November 2020.