In the current circumstances, many sponsoring employers are experiencing acute financial difficulties, forcing both employers and trustees to take urgent action.

Trustees have been considering allowing for the suspension of DRCs or whether they should undertake an ‘out of cycle' review as well as whether the current circumstances disproportionately affect a covenant review, or could result in a material and more longer lasting effect on the covenant.

This episode will look at how trustees should respond and are responding to changes or suspensions to employer contribution rates as well as tackling questions such as whether it’s time for trustees to consider certain of their key powers and responsibilities, both under scheme rules and legislation to safeguard member benefits.

It will also assess the longer-term detriment to covenants and ask how trustees should react if there are issues