Trustees and employers currently negotiating a valuation will be having difficult discussions about the immediate impact of COVID-19 and the longer-term position of their schemes. TPR is encouraging trustees and employers to work together to manage these risks.
In our view, the big economic fear must surely be the other two horsemen of the financial apocalypse… unemployment and inflation. Why have we heard so little about the latter? If you look beyond the broadsheets, some worries about inflation can be detected.