About

This meeting has been convened at short notice to brief chairs of trustees on the key aspects of the recent guidance on covenant released by the Regulator as it affects them. The guidance comes in the wake of the Funding Code which brought with it the potential for added complexity in dealing with the employer, when for example coming to an agreement on what reasonable affordability is and being required to conclude on the sponsors ability to support risk which will require information to be gleaned from the employer which will then need to scrutinised by trustees. This briefing will help trustees interpret the guidance and suggest a way forward taking into account the possible challenges and push back that may arise with guidance on making the process efficient and proportionate.