The Pensions Regulator (TPR) has issued a series of guidance notes regarding the impact of the COVID-19 pandemic on UK pension schemes.
Pension trustees have a particular set of pressures falling on them at this time. Many will have seen the value of scheme assets fall significantly over the last few weeks, matched by an increasingly challenging operating environment for scheme sponsors.
There has been a steady stream of information and guidance from Government and the Pensions Regulator which pension trustees will need to consider, in addition to the practicalities of carrying out trustee business in the current environment.
We have prepared a client alert available here, which describes some of the things pension trustees should be thinking about.
We will provide further updates in due course as the situation develops.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.