The survey found half of the trustee boards of the UK’s largest pension schemes are concerned for the future about the impact on their employer’s covenant of a takeover. The main worries are from acquisitions by private equity firms and foreign-based businesses. Paul Thornton, managing director of Gazelle Pensions Advisory says: “Trustee boards must pay now pay great attention to the sponsoring employer’s covenant. It is alarming that more than a third of schemes take no independent advice on covenant issues at all. More alarming still is the finding that 8 out of 10 of these self-reliant boards think independent advice also will be ‘unnecessary’ in the future.”
Trustee boards should seek independent advice
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By admin
- Categories: Pensions
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