Need to explain charity pension deficits

The Charity Commission is reminding charities that they should use their Trustees Annual Report to explain how they are tackling the potentially serious risk of a pension scheme deficit. A recent review of a sample of charities with a deficit and an income over half a million pounds found that less than a third had included an explanation of the financial implications and plans to tackle the issue. Commission news release.

Charity Finance Group has issued a response – not currently online, but see their policy page http://www.cfg.org.uk/Policy/pensions.aspx. A third edition of its ‘Pension Maze’ covering the issues and risks is due out in the summer.

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