The Pensions and Lifetime Savings Association (PLSA) comments on the Pensions Regulator’s Annual Funding Statement.
Joe Dabrowski, Head of DB, LGPS and Standards, PLSA said: “The Pensions Regulator’s Annual Funding Statement provides welcome news about the resilience of pension schemes in the face of the crisis, and fresh flexibility for schemes preparing and finalising valuations.
“It contains important guidance for schemes and employers about its expectations for managing covenant risk or value leakage, delays or changes to deficit contributions, and on tough terms for the return of dividends to shareholders.
“The PLSA supports the clear expectation that, whilst pragmatism is needed to navigate through this crisis, including a need to take account of the pressures on employers, savers’ interests should not be sacrificed.”
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Steven Kennedy, PR Manager
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