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Uncertainties in the economic environment, and the constant change in legislation, makes it challenging for the trustees of defined benefit pensions schemes to reach conclusions on the level of support their sponsoring employers are able to provide in order to fund deficits.
Sponsoring employers also face challenges in understanding how their financial performance and position, as well as structural issues, can impact upon the support they need to provide, what they can do to manage costs and how they can most efficiently deal with schemes in the longer term.
Simplifying complex issues for you
We provide advice to both trustees and sponsoring employers, tailoring our services to the circumstances, but specialising in simplifying complex issues around securing future funding and managing, reducing and removing risk.
We have a depth of experience
We have participated in over 400 covenant review and transaction-based assignments over the last ten years, working closely with the Pensions Regulator (tPR) and the Pension Protection Fund (PPF), where on-going secondment programmes have given us a unique insight into how they work. We have also acted as lead advisers on ground-breaking pension-centric corporate restructurings (including Kodak and UK Coal) where we instigated innovative solutions to complex problems.
Our range of solutions includes the following areas
- Actuarial and scheme de-risking: advising on all aspects of de-risking, including use of some of the most complex and innovative solutions in the market.
- Pension scheme restructuring: where scheme liabilities are becoming unsustainable, we can advise on optimal strategies for securing members benefits with the best possible outcomes, or advise employers through the process which can include interactions with both tPR and the PPF
- Pension scheme transaction advisory: advising on a potential change in covenant strength as a result of corporate transactions and providing scheme due diligence on behalf of either vendors or acquirers
- PPF Levy management: focusing on the accounting or actuarial steps which can be taken in order to ensure that employers are given the lowest possible levy bandings by Experian, potentially resulting in significant cost savings
- Scheme funding advisory: providing covenant assessment advice and affordability reviews for the purpose of triennial valuations, advising on innovative funding solutions and providing assistance in negotiations
- Pensions assurance: reporting with independent opinion gives confidence to trustees to support their governance processes
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Triple Award Winner
Project of the Year – Kodak Alaris
Change Management in the Private Sector – Kodak Alaris
People – Kodak Alaris
The Institute for Turnaround
Advisor Turnaround & Transform winner 2014