Member of BTG Global Advisory

Covenant Assessment

Assessing the employer covenant is now an expected pre-requisite of the Pensions Regulator and an established requirement of the scheme funding regime albeit who carries it out and how it is carried out is a matter for each scheme recognising the size and

The covenant assessment underpins the assumptions on which the technical provisions should be based recognising both the ability and willingness of the scheme employer to continue to support its pension scheme.

Guidance from the Pensions Regulator makes clear the sort of information the Trustees need to know and understand about the employer’s current and prospective financial strength, of its ability to meet ongoing financial contributions to the scheme and of the possible outcome for the scheme in the event of the scheme employer becoming insolvent.

Our team has a combined experience covering many decades of assessing all forms of businesses current and ongoing viability and the likely outcome for creditors in the event of insolvency.

We are therefore exceptionally well placed to assist Trustees in undertaking covenant assessments allowing them to focus on setting appropriate and prudent assumptions in complying with their scheme funding obligations.

Contact our team

Processing...
Latest News
KCP investment boosts domiciliary care provider Routes Healthcare
KCP investment boosts domiciliary care provider Routes Healthcare
Growing domiciliary care business Routes Healthcare, which provides NHS-funded intensive home care, has received a substantial investment from private equity firm Key Capital Partners (KCP) which has …
The Problems with Using Unlicensed Insolvency Advisers
The Problems with Using Unlicensed Insolvency Advisers
If your business is struggling to stay afloat and meet creditor demands, you may find that unlicensed insolvency advisers will claim to have all the answers to your questions. However, only licensed i…
Begbies Traynor Welcomes R3 Guidance on Dealing with Personal Debt Problems
Begbies Traynor Welcomes R3 Guidance on Dealing with Personal Debt Problems
The insolvency trade body R3 has published a new guidance document on the subject of how best to deal with the prospect of personal insolvency as a UK individual. As experts in both personal and corpo…
Historic construction and restoration company William Anelay placed into administration
Historic construction and restoration company William Anelay placed into administration
On 8 September 2016, Julian Pitts and Bob Maxwell of Begbies Traynor were appointed as joint administrators of William Anelay Ltd; one of Britain’s longest-established construction and heritage restoration companies
Director promotion at Begbies Traynor Preston
Director promotion at Begbies Traynor Preston
Ian McCulloch has been promoted to the position of Insolvency Director at Begbies Traynor's Preston office after eight years with the firm
First Ruling of Section 342A of the Insolvency Act
First Ruling of Section 342A of the Insolvency Act
Mark Raeside QC presided over four separate days in the High Court last week as Section 342A of the Insolvency Act was finally ruled upon, directing what constitutes an excessive contribution to a pension scheme which can be set aside by a trustee in bank

Advice You Can Trust

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland
Menu