The demanding, and ever changing, environment for both defined benefit (DB) and defined contribution (DC) pension schemes requires trusted advisers and independent auditors.

DB schemes face ESG-related reputational risks, rapidly changing funding positions for end-game planning, cyber threats to member data, regulatory expectations and public scrutiny, while DC schemes are also contending with increasingly complex governance requirements.

Meeting these challenges consumes management time and presents costly and unpredictable cashflow pressures.

Our award-winning advisers and independent auditors can help you navigate this evolving landscape.

  • Trusted adviser
  • Independent auditor
  • Industry thought leaders
  • Trusted adviser
    Trusted adviser
    Award-winning covenant, actuarial, cyber, VAT, and investment tax advice for DB pension schemes
  • Independent auditor
    Independent auditor
    A quality, tailored service that adds value by supporting trustee governance, as well as meeting regulatory expectations
  • Industry thought leaders
    Industry thought leaders
    Embedded in the sector through key working party memberships, dialogue with opinion formers and secondments to TPR and PPF
Neil Knights
Partner, Head of Pensions
Neil Knights

Why Grant Thornton?

You’ll work with people delivering award-winning covenant advice, high quality audit and tax services.

pension team
covenant assignments
scheme audits

of the top 100 UK schemes in our portfolio
UK pension centres of excellence


pensions-age-awards-2022-winner logo proffetional-uk-pensions-awards-2021 logo professional-pensions-uk-pensions-awards-2024 logo


Pensions Age Awards 2022 Sponsor Covenant Provider of the Year



UK Pensions Awards 2021 Sponsor Covenant/IRM Adviser of the Year



Pensions Age Awards 2024 for both Pensions Accountancy Firm of the Year and Sponsor Covenant Provider of the Year

Supporting our pensions audit clients beyond compliance

The Challenge
Our client previously had a minimum compliance audit that provided no insightful recommendations to improve internal controls arising from the audit process.
The solution
Our team identified investment managers had been over‑charging the Scheme and there was a duplication of effort between the in-house team and Scheme advisers.
The result
New risk management processes were implemented to provide greater visibility over mitigating controls for the Trustee, ensuring they operate as expected.

Flexible advice delivers strong result for pension Schemes

The challenge
A UK group providing infrastructure and construction services supports various DB Schemes with different funding needs through a combination of contributions and contingent assets
The solution
Poor trading and non-core disposals meant a flexible funding agreement was needed to address the weaker covenant and allow for an equity injection and group-wide debt reduction
The result
All Schemes are now on track to achieve their long-term funding targets, with some reporting a surplus, with reduced level of deficit repair contributions payable by the group

Covenant advice supports impact of corporate activity

The challenge
Over several valuation cycles, extensive corporate activity has materially altered the structure and strength of the underlying covenant supporting the Scheme as it approaches full funding
The solution
Apportionment arrangements and appropriate mitigation dealt with the change to a single UK employer, while a dividend policy addresses potential future covenant leakage
The result
The Scheme, supported now by a well-funded UK statutory employer, has a surplus on a long-term funding basis and expects to be fully funded on a buy-out basis within five years
Very good at working autonomously and producing accurate, well thought out reporting on time. They cover multiple schemes for us. We have a small in-house team so we rely on them to be organised and to facilitate the audit in conjunction with the outsourced accounting function, which they do effectively.
Head of Pensions and Benefits Vodafone Group Pension scheme
We had not considered a non-Big Four firm before for the scheme Auditor, but Grant Thornton have hit every milestone promised and understand what we are, what we're about and the processes involved.
Andy Rowell Head of Trustee Services I Unilever (UK) Pension Fund