TPR warns trustees to prepare for possible sponsor distress
Released 12 November 2020
The Pensions Regulator (TPR) has warned that trustees of defined benefit pension schemes should act quickly to protect savers if they spot the warning signs of employer distress or insolvency.
TPR has published guidance urging trustees to prepare now for the possibility their sponsoring employer faces difficulties. It also highlights issues arising from corporate transactions (Mergers and Acquisitions) and how trustees should engage in these.
Further information, including a link to the guidance for trustees, can be found at https://www.thepensionsregulator.gov.uk/en/media-hub/press-releases/2020-press-releases/pension-trustees-must-be-ready-for-possible-sponsor-distress-says-regulator.