Testing the covenant
The approach to liability valuation and funding is critical for defined benefit pension funds. Life & Pensions brings together leading trustees to share their experiences. Nicholas Dunbar reports
Nick Dunbar, editor of Life & Pensions magazine.
Chris Holden, chairman of the £3 billion telent pension scheme, also known as the GEC Marconi scheme.
Helen James, director of Law Debenture Pension Trust Corporation, a firm of independent pension trustees.
Eric Hunt, head of pensions for BAA and secretary to the trustees of the £2.2 billion scheme.
Tony Watson, chairman of the £5 billion Marks and Spencer pension fund.
Nick Dunbar
The sponsor covenant is perhaps the most critical factor in UK defined
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