As part of a series of webinars and podcasts being produced by the firm’s Pensions practice, guest speaker David Fairs, Executive Director for regulatory policy, analysis and advice at The Pensions Regulator (TPR), virtually joined Burges Salmon to discuss the current key considerations in pensions regulation.
Partners Richard Knight, who heads the Burges Salmon Pensions team, and Clive Pugh, who has led the firm’s Pensions Regulatory team for over ten years having previously worked at TPR himself, hosted the webinar and joined David in exploring the hot topics of the moment, both COVID-19 and non-COVID-19 related.
During the webinar, David discussed with Richard and Clive the actions taken by TPR at the beginning of the Coronavirus pandemic as well as its position with regards to the phasing out of lockdown restrictions, and how employers and trustees should be approaching this phase in the context of their pension schemes. TPR’s executive director also commented on the future of superfunds.
The conversation is broadcast immediately after TPR’s latest announcement on Tuesday 16 June that it has extended measures to help pension schemes tackle COVID-19 challenges. The updates include further guidance with regards to 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.
On the webinar, David says: “There are some employers who are coming through this crisis in remarkably good shape, continuing to be profitable with strong cash flows, 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 adds: “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 here.