One of the challenges currently high on many finance directors’ agendas is how to alert the board to, and help them manage, the risks arising from defined benefit pension schemes.

CIMA’s approach aligns with the perspective of a sponsoring company and addresses the risks presented to the implementation of the company’s chosen business strategy by its pension obligations. Such risks are likely to be evidenced by volatility in contributions required, impacts on debt covenants/credit ratings, funding issues or dividend distribution constraints together with the possible scrutiny of the Pensions Regulator (‘the Regulator’) over certain events or proposed courses of action.