Very few pension schemes have sufficiently sophisticated risk
management systems in place to deal with the economic and social
disruption caused by COVID-19.
In this article, we outline the main issues trustees and
employers should be considering, highlighting guidance recently
issued by the Pensions Authority where relevant. We have also
provided some practical first steps employers and trustees can take
to minimise the impact of the current crisis.
Practical first steps
The issues flowing from COVID-19 have created an unfamiliar
commercial environment. In terms of practical first steps that
employers and trustees should be taking, we would advise the
following:
- ensure that trustee decision making can continue;
