We responded to the HMT and DWP evidence calls on the Options for DB schemes and Trustee skills, capability and culture, both being launched following the Chancellor’s speech at the Mansion House in July calling for a number of pension changes to boost the UK economy. Copies of the responses are below:
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In our response today we say the regulations are overly prescriptive in some areas that need to be set out in the Code of Practice. There are dangers of unintended consequences in what is proposed for pension schemes that could affect the UK economy and business investment.
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Our response seeks to be objective and is built off the very considerable experience of our members in advising on employer covenant-related matters with massively variable features and dimensions, particularly in relation to corporate transactions and events
that might weaken the employer covenant. The ECPA would welcome further engagement with the Department on this matter…
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