RSM partner Donald Fleming has been elected chair of the Employer Covenant Working Group with effect from 1 August 2017.
The Employer Covenant Working Group (ECWG) is a group of leading industry experts formed to work in collaboration with pension trustees, scheme sponsors and regulators to address the issues facing defined benefit pension schemes in respect of covenant advisory work.
’The recent DWP Green Paper has highlighted the challenges but also resilience within the UK defined benefit landscape. The employer ‘covenant’ is a critical part of this resilience and is at the core of integrated risk management. This calls for robust financial risk analysis, drawing on the distinctive skills and experience of covenant practitioners.
’The ECWG plays an important part in helping develop thought leadership in matters concerning covenant and a joined-up approach with the other professional advisers to pension schemes and the companies that support them. Our members have worked constructively together to produce guidance in a number of areas to help drive best practice in covenant-related work. I should like to thank my predecessor, Keith Hinds, for his hard work over the past year and look forward to continuing in his path during my term.’