In brief
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Baker McKenzie, Corporate governance, Coronavirus, UK House of Commons
Finance Minister Grant Robertson yesterday afternoon announced a number of proposed temporary changes to the Companies Act, with the stated purpose to help businesses facing insolvency due to COVID-19 remain viable.
The temporary changes include:
These key action points take into account the UK Pensions Regulator's recent statement on COVID-19. Trustees and employers should continue to monitor further updates from the Regulator.
Defined benefit (DB) arrangements
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Baker McKenzie, Coronavirus