Pensions Watchdog Warns Of 'Uncertainty' Over Insolvencies
Law360, London (May 26, 2021, 3:07 PM BST) -- The U.K. retirement savings watchdog said Wednesday there is uncertainty over how businesses will fare when state support introduced during the pandemic is withdrawn, urging pension trustees to keep an eye on the financial health of sponsoring employers.
The Pensions Regulator said scheme trustees need to carry out "stress testing" to weigh whether an employer would continue to be able to meet funding obligations to workplace saving plans.
Despite fears of the impact of COVID-19 on businesses, the number of U.K. insolvencies fell last year. But experts believe that the number could rise markedly when state support is withdrawn in September....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!