Pensions Compass April 2020

22 / 04 / 2020

Alison described the February 2020 Edition as a “fun packed edition to help blow away the winter doldrums”. As the new Pensions Compass Editor, I follow in her footsteps in attempting to blow away, or at least reduce, anxieties around COVID-19 and Pensions. Our message to clients and contacts is simple: continue to do the basics well, be practical and obtain advice. These themes are reflected in the following articles in this special Edition of Pensions Compass:

PART 1 – together with Trainee Adam Kobeissi, a lightening refresher on core legal duties.

PART 2 – Paul and Adam explain how to operate well in the strange COVID-19 world, including practical guidance for virtual meetings and pension business continuity.

PART 3 – Alison and Adam tackle the thorny issue of Continuation of employer and employee pension contributions under the Government’s furlough scheme.

PART 4 – Justin and Paul consider funding, covenant and investment issues for DB Schemes.

PART 5 – Adam and myself tackle key points for DC scheme trustees investment duties  – DC members having seen their pensions savings decimated in many cases.

Last but not least, at the end of this Pensions Compass is our usual Pensions Ready Reckoner and reflecting the COVID-19 impact.

Please contact us if you have questions regarding the above topics, or generally. At Wedlake Bell remote working is fully operational in pensions and across the whole firm including our banking, corporate, data protection, employment, matrimonial, private client, property and tax teams. The interface between pensions and employment law is crucial and we are working closely with our employment law team on a wide range of COVID-19 issues.

We look forward to meeting you again in print in a few months’ time in our next Pension’s Compass. Meanwhile, please see our website for COVID-19 updates and other key topics.

We wish all our readers good health.