Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.
Introduction The Government published its long awaited consultation on the switch from RPI to CPI for increases to pensions in payment and in deferment on 8 December 2010. Widely reported as a potential reduction in liabilities for the...
Introduction TPR’s guidance on “Monitoring employer support: Covenant, contingent assets and other security” (the Guidance) was finalised on 30 November 2010. The tenor of the guidance has not changed significantly since the draft...
Background The draft guidance issued for consultation by the Pensions Regulator on “Defined benefit multi-employer schemes and employer departures: guidance for trustees” is easy to read and does a good job of explaining the different...
Background The draft “Guidance on monitoring employer support: covenant, contingent assets and other security”, published on 15 June 2010, draws together a number of strands from TPR’s existing publications with a specific focus on...
Introduction In June’s Emergency Budget the Coalition Government announced it intended to use the Consumer Prices Index (CPI) rather than the Retail Prices Index (RPI) as the measure for applying increases (both in deferment and to...
Introduction When a company exits an underfunded multi-employer DB scheme, its share of any deficit generally becomes a debt due to the trustees (“the employer debt” or “section 75 debt”). Since September 2005, the...
Introduction The highly anticipated judgment in the Pilots1 case was handed down today. It concerns the Pilots National Pension Fund (PNPF), a UK industry-wide pension scheme for marine pilots. The PNPF is approximately £300m in...
