The UK pensions regulator is to warn trustees of thousands of company final salary-style pension plans to be more alert for signs of employer distress as it fears scheme members risk getting a raw deal from any hastily arranged business rescue.
The action comes as government and regulatory bodies become increasingly concerned that the winding down of taxpayer-funded coronavirus job support schemes will trigger a sharp rise in business failures.
The Pensions Regulator will over the next few weeks begin to write to trustees of all 5,500 private sector defined benefit plans, with a total of more than 10m members, advising them to watch out for profit warnings, credit downgrades or debt refinancing.
Once a business with a defined benefit s…
Read the full article at: https://www.ft.com/content/d4acb274-5a23-44aa-91f7-cb2635a6bda9
