United Kingdom | Publication | August 2024
The Society of Pension Professionals has published a useful short guide to the new DB funding regime which comes into force for scheme valuations effective on or after September 22, 2024.
Under the new funding regulations, the employer covenant has been legally defined for the first time. The SPP guide sets out questions in a flowchart form which direct trustees on how to assess the employer’s business prospects.
All DB schemes will be subject to the new funding regime and the guide is an accessible and recommended read for trustees of such schemes.
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In a move that mirrors similar measures by the United States, the Government of Canada has imposed surtaxes on electric vehicles (EV), aluminum and steel from China.
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Accountants and financial advisors should be aware that courts may consider them more than mere agents for their clients. Like lawyers, they may be liable in contribution and indemnity for the professional advice they provide.
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