As reported in our recent briefing, the Department for Work and Pensions has issued an informal consultation on making changes to the employer debt regime. Contrary to some press reports, the stated intention is not to weaken the protection for pension schemes under section 75 of the Pensions Act 1995 but rather to relax the requirements only in the context of corporate restructuring where the employer covenant was strong before the restructuring and there is no detrimental effect or weakening of the covenant afterwards. A formal consultation may follow if changes are to be proposed.