Vol 17 (2020) - Issue 5

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UK Pensions Restructuring in a Post-COVID Era

Synopsis
To say that we are living in unprecedented times is obvious from multiple perspectives. Equally as obvious should be that a 'business as usual approach' is unlikely to be an appropriate response to meet the challenges that we face, in particular in ensuring that people and the businesses that employ them can weather the storm and, where possible, emerge stronger than before.

In this article we consider whether the unique circumstances that we find ourselves in are perhaps an opportunity to adapt long held policies and approaches when restructuring companies with UK Defined Benefit Pension Schemes to meet the needs of the times, embracing an enterprise and rescue culture whilst also protecting and working in the interests of the pension scheme members.