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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | August 2009 (9 blogs) | Avoiding pension raiders: the art of the covenant
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Avoiding pension raiders: the art of the covenant
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A short survey by Pensions Week highlights some of the difficulties that trustee boards must be facing when negotiating deficit repayment schedules with employers that sponsor a defined benefit scheme. Research reveals that some trustees have agreed innovative methods of deficit repayment that closely monitor the profits of the employer as it steers itself through the recession.
It also reveals that ‘Several actuaries responding to Pensions Week’s survey reported a good level of understanding by trustees of their employer’s difficulties and a willingness to adopt an imaginative solution to recovery plans.’ The article also touches on the importance of reviewing the covenant - particularly important at the bottom of an economic cycle. See:
And if that's a subject of interest to you, here's an excellent bulletin from Punter Southall:
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Mike Jones, MyCompanyPension.co.uk Ltd, August 4th 2009
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(2 pages)