The COVID-19 pandemic has placed charities under significant financial strain in the last few months, with fundraising and retail income particularly badly hit.  Charities therefore need to conserve cash, but in many cases DB pension deficits have also increased.

On top of this, forthcoming regulatory changes are putting pressure on charities to pay off pension deficits quicker.  A delicate balancing act is required between ensuring the sustainability of charities and funding higher pension deficits.

Some of our key findings are: