Further to the Pensions Regulator’s 2026 Annual Funding Statement, the ECPA have produced a simple ready reckoner to help Trustees understand how covenant can add value across different scheme funding levels. Overall, covenant remains the cornerstone of supportable risk – but its role is evolving into a more integrated, forward-looking assessment aligned with funding strategy ...more...
Co-authored by a number of ECPA practitioners, the paper seeks to emphasise the importance of considering sponsor longevity as a key component of an employer covenant assessment; to highlight the professional judgement required in doing so; and to explain the value of a dynamic monitoring approach around sponsor longevity..
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