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The Employer Covenant Working Group (ECWG) has today announced the issue of its guidance entitled Transactions in a distressed environment. This is the ECWG’s third practical guide for advisors, trustees and sponsors of defined benefit (DB) pension schemes. The ECWG has been established by leading providers of covenant advice in the UK pensions market. |
Keith Hinds, a Director of ECWG commented:“The Transactions in a distressed environment guidance has been developed by the ECWG to assist practitioners in evaluating the implication of a range of distressed situations for the covenant of the employer and the associated risks to the security of member benefits in defined benefit schemes.
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