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PMI
20 August 2021

PMI Academy Covenant Manual

Read PMI Academy partner Penfida’s manual on employer covenant.

An assessment of the employer covenant measures the ability of the sponsor to meet its obligations to a scheme, both now and in the future.

Covenant assessment is a relative concept and therefore the qualitative and quantitative strengths and weaknesses of the covenant must be considered in relation to the funding requirements and investment risk of a scheme.

A robust understanding of the covenant supporting a scheme allows for more informed journey planning and funding decisions, and is a fundamental strand of an integrated risk management approach.

Download the manual below.

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Last update: 7 September 2021

Governance Officer - In House Pension Scheme

Salary: £65000 - £85000 pa

Location: London

Defined Benefits Administration Manager

Salary: £45000 - £65000 pa

Location: Leeds, West Yorkshire

Senior Pension Administrator

Salary: £20000 - £40000 pa

Location: Victoria (London)

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Covenant case study: how to protect your recourse in a corporate transaction
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Covenant case study: how to protect your recourse in a corporate transaction

Our case studies examine real life situations that bring to life particularly important aspects of covenant risk management, with an explanation of the actions taken and the outcome achieved. This case study looks at a situation where a scheme’s trustees were faced with a leveraged takeover bid for the sponsor company.

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