Assessing covenant reliability in an unpredictable world

Many have suggested covenant is now less important than what The Pension Regulator’s Defined Benefit (DB) Funding Code would imply. But in an increasingly volatile economic environment, it remains important for trustees to understand their covenant and the key drivers for employer health. Central to the Funding Code are the concepts of Covenant Reliability Period […]

SOS – Save Our Sponsor

A scheme sponsor in financial distress can shift a pension trustee’s world. In many instances an insolvency, or the threat of one, wouldn’t be on a trustee’s plan at all. There’s plenty to consider and action to be taken. Without the right skills and experience, a lot can potentially go wrong too. But there’s always […]

Trustee Talk: James Chalk talks covenant

Client director James Chalk joined Asset TV’s Sam Rossiter for their episode that centered on the subject of sponsor covenant. Looking at the recent recording, James commented: “As many schemes move towards their endgame or a run-on structure, there is a danger that sponsor covenant is forgotten about. In this edition of Trustee Talk I […]

Exiting PPF assessment with a DB consolidator

Read about how Kerry Jones and the Vidett team restored full benefits for members of the Debenhams Retirement Scheme through a ground-breaking solution with Clara Pensions.

Improving member outcomes for M&CO

Learn how Kevin Dolan and the Vidett team improved security for pension scheme members’ when the Sponsor was facing the threat of insolvency.

Planning for a potential insolvency

Read about how the Vidett team’s contingency planning helped keep member benefits secure in the face of the potential insolvency of the pension scheme’s sponsor.

Predicting pensions in 2025

As 2025 begins in earnest, we’ve been asking some of our experts what they think the year will bring for their service line and the pensions industry as a whole. Here’s their thoughts: Mandy Kaur-Sadler, head of our large schemes service line Q: Is buy-out still the optimal outcome?  A: “An emerging trend, particularly notable […]

Corporate restructuring for Communisis

In this case study we were tasked with optimising member benefits for a pension scheme who’s sponsor was experiencing significant financial distress. Read the case study to see how we helped.

Is now the time for pension trustees and employers to act on scheme security?

For most defined benefit (DB) pension schemes, funding positions have never been better. This is a reason for action rather than complacency as the environment could change, certainly over the timeframes of DB schemes. Pension trustees should have a clear plan to take advantage of current positions. Setting and delivering a strategic plan is in […]

Mike Birch to join Vidett from The Pensions Regulator

We’re delighted to announce Mike Birch will be joining us as a client director in April 2024 from The Pensions Regulator (TPR). His role with Vidett will see him move into professional trusteeship with a primary focus on defined benefit (DB) schemes with employers experiencing distress or undergoing corporate transactions. Mike has spent over eleven […]

ExpertView is back & we’re talking restructuring plans!

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 […]

Dealing with distress – part three: PPF assessment & PPF+ buy out

Assuming you’ve read ‘Dealing with distress part one (keep calm and carry on) and part two (radical surgery)’, we’ve reached the point where a distressed scheme sponsor cannot be saved. What remains vital is securing the best possible outcome for pension scheme members. All eyes will naturally turn to the Pension Protection Fund (PPF) to provide compensation to […]

Dealing with distress – part two: radical surgery

So, your pension scheme sponsor is in distress and, having assessed the situation (see part one – keep calm & carry on), it is clear the employer cannot support both the scheme and continue trading. Insolvency is inevitable. It is just a matter of time… Time for a rescue attempt Although it may seem like the […]

Dealing with distress – part one: keep calm & carry on

One of the most difficult situations a pension trustee can face is where the scheme sponsor is distressed, meaning the risk of insolvency is high. Trustees owe a fiduciary duty to act in the best interests of pension scheme members but, as insolvency results in job losses as well as reduction in shareholder value, avoiding […]