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Emily Goodridge is managing director at Cardano Advisory
The covenant industry is relatively young in the pensions world and yet the sponsor covenant, or promise to pay an agreed pension, is the underlying premise of all defined benefit (DB) pensions.
Understanding how, and why, the Pensions Act 2004 first planted the seed of employer covenant 20 years ago provides valuable clues to how covenant needs to evolve in the years to come. The birth...
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