Be ready for sponsor distress, TPR tells trustees in fresh guidance

Despite government interventions, Covid-19 is continuing to damage the economy and employer health, leading to increased levels of corporate activity, some in response to distress. Earlier today, the Office for National Statistics confirmed that while the economy had rebounded by a record 15.5% in the third quarter of the year, this was slightly below the 15.8% forecast and it remains 10% below pre-pandemic levels. Separate data from the Office for National Statistics earlier this week also revealed 314,000 people had lost their jobs in the same period. The watchdog has now issued gui...