Key current themes in pensions were explored in a question-and-answer webinar with an executive director of The Pensions Regulator hosted by Bristol-headquartered national law firm Burges Salmon.
David Fairs, who leads on regulatory policy, analysis and advice at The Pensions Regulator (TPR), was joined by Burges Salmon partners Richard Knight and Clive Pugh in exploring the hot pension topics of the moment, both Covid-19 and non Covid-19 related.
Richard Knight, pictured right, heads Burges Salmon’s pensions team while Clive Pugh, pictured below, has led the firm’s pensions regulatory team for more than 10 years having previously worked at TPR.
During the webinar, David Fairs discussed with Richard and Clive the actions taken by TPR at the beginning of the coronavirus pandemic as well as its position on phasing out of lockdown restrictions, and how employers and trustees should be approaching this phase in the context of their pension schemes. David Fairs also commented on the future of superfunds.
The event came after TPR’s announcement on Tuesday that it has extended measures to help pension schemes tackle Covid-19 challenges.
The updates include further guidance on defined benefit (DB) scheme trustees facing employer requests to agree to suspend or reduce deficit repair contributions (DRCs), late payments, pension transfers and annual benefit statements.
David Fairs said: “There are some employers who are coming through this crisis in remarkably good shape, continuing to be profitable with strong cashflows, but I think for many employers there are some very real challenges.
“It was a pleasure to join Richard and Clive at Burges Salmon to discuss what these challenges might look like and the advice The Pensions Regulator offers employers and trustees as we look towards financial recovery.”
Richard added: “At a time when we are unable to host such events in person, we were delighted to be joined by David and discuss some of the most important issues of the moment in pensions regulation.
“David provided considerable insight into regulation and recovery in the Covid-19 crisis from the perspective of The Pensions Regulator.
“The webinar can now be watched on our website and we hope that employers, trustees and those working in the industry in the current circumstances find the content useful.”
The webinar is now available on demand on the Burges Salmon website here.
