Coronavirus

PwC index finds winter lockdown undid improvements from summer reopening

Trustees have been warned to keep an eye on weakening employer covenants even after a positive aggregate funding experience in the last three years as myriad funding and investment issues pose risks to defined benefit (DB) schemes.

While the short-term impact of Covid-19 on liabilities in the Local Government Pension Scheme (LGPS) is likely to be relatively modest, the long-term impact is likely to be greater, according to the Scheme Advisory Board (SAB).

The UK economy returned to growth in February, expanding by an estimated 0.4% even as nationwide lockdowns remained in place, although GDP output remained 7.8% below a year earlier, according to the latest figures.

Laura Chappell looks at how the lockdown has impacted mental health and why there is a human and business case for making sure help is available when employees of any seniority need it.

The Continuous Mortality Investigation (CMI) has found a lower cohort life expectancy for both men and women in its 2020 table, even after zero-weighting data related to Covid.

Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.

British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.

The technological developments arising out of the pandemic will change the pensions industry forever, says Darren Philp.