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Covenant reviews

The requirements to assess an employers covenant is set out in The Regulator's Code of Practice 'Funding Defined Benefits'. The key elements are that any shortfall should be eliminated as quickly as the employer can reasonably afford, the trustees must form an objective assessment of the employers' financial position and be well prepared in negotiating with the employer.

Our dedicated team provide a speedy service advising trustees on all aspects. We have a reputation for clear communication, being able to reduce a large amount of information to the key facts and issues and for negotiating robustly on behalf of the trustee.

The flexible nature of our service means that trustees can choose the level of service. Some trustees will only want a brief health-check on their sponsors, while others will want comprehensive advice. Within the overall employer covenant assessment our services fall into the following three categories:

The initial covenant review
The output of this review is a presentation to the trustees of the key issues and recommended actions.

Negotiating a recovery plan
We assist the trustees in negotiating with the employer.

Follow-up services
Following the conclusion of the valuation process we are able to provide a covenant monitoring service, which will be tailored to meet the specific requirements of the trustee. 

For further information, please contact us.