Endgame is fast becoming the focal point for defined benefit (DB) pension schemes. With varying options available for schemes, be that running-on (for the short or long term), transacting with an insurer or a consolidator. Understanding the impact of each option on benefit security is a key factor in any decision and including an assessment of covenant strengths and weaknesses, has never been more important.
In this recording, our covenant and insurer due diligence teams unpack the main drivers of benefit security, outline the key questions needed to fairly evaluate the security impact of different endgame options, and offer practical guidance on how to incorporate covenant into your endgame decision-making process. We also welcomed Janet Brown, Partner at Sacker & Partners LLP to share insight to key legal considerations when deciding your scheme’s endgame.
If your scheme is considering running on — whether in the short or long term — you will learn how your covenant will need to underpin this strategy with best practice for effective monitoring, scenario testing, and security arrangements.
For schemes contemplating an insurance transaction, we consider the key aspects of the insurance regime that ultimately underpins member security, as well as exploring how assessment of key differences between insurers can shape trustee decision making.