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Regulator publishes blog on trustee engagement where employers are in difficulty
United Kingdom | Publication | March 2023
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.
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.
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