Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.
Introduction When a company exits an underfunded multi-employer DB scheme, its share of any deficit generally becomes a debt due to the trustees (“the employer debt” or “section 75 debt”). Since September 2005, the...
Introduction The highly anticipated judgment in the Pilots1 case was handed down today. It concerns the Pilots National Pension Fund (PNPF), a UK industry-wide pension scheme for marine pilots. The PNPF is approximately £300m in...
Background The Government’s consultation on the proposals and draft regulations relating to the strengthening of the administration regime for insurers which were published by HMT on 25 March 2010, are aimed at improving the protection...
In this Alert: Key points What is the employer covenant? Whose covenant should the trustees assess? Assessing the employer covenant? Monitoring Contingent Assets Key points TPR has produced draft guidance1 for trustees on how to monitor...
Introduction Back in June 2009, TPR issued a statement on scheme funding and employer covenant (the sponsoring employer’s legal obligations to its DB scheme and its ability to meet them). Since then, TPR has received requests for...
Introduction When a company exits an underfunded multi-employer DB scheme, its share of any deficit generally becomes a debt due to the trustees (the employer debt). In a consultation published in September 2009,1 the Government proposed...
Introduction Sackers’ Public Sector Unit has wide experience of working with organisations on the complex legal and compliance issues that face public sector schemes and broadly comparable “passport” schemes. In this newsletter...
