ExpertView is our series of discussions bringing together experts from different disciplines to share their specialist perspectives on key pension topics.
In our first episode of the year, Trustee Director Kevin Dolan sits in the presenting hot seat. He’s joined by Naomi Parmar and Katie Banks from Hogan Lovells’ Restructuring and Pensions teams and Dan Mindel from Cardano Restructuring.
Following the introduction of the Corporate Insolvency and Governance Act 2020 and the new restructuring procedures within the Companies Act 2006 (for companies in financial difficulty), Kevin and his guests take a look at:
- the use of restructuring plans to date
- how they operate
- the impact they may have on a defined benefit (DB) pension scheme
- the actions of a trustee of a DB scheme might consider if approached with one
Reflecting on the session, Kevin Dolan commented: “It is too early to tell in detail how DB pension schemes might be impacted by a restructuring plan, but it does appear this is a restructuring tool that’s here to stay. It was great to get the views of fellow professional advisers well versed in the restructuring & pensions arenas.”