Pension scheme strategy & liability management
Our Pensions & Employee Benefits team advises corporate sponsors and trustees on all aspects of pension scheme strategy and liability management.
We help clients to navigate the UK’s regulatory pensions framework to achieve their commercial goals.
This demands a genuinely coordinated approach – working closely with our clients’ other advisers, reacting to legislative changes, having a detailed knowledge of pension scheme documentation and the ability to work to tight deadlines.
This is where our in-depth experience and collaborative approach come to the fore, helping us to understand the issues quickly so that we can build effective strategies and work seamlessly with everyone involved to get the job done.
- Advising on contingent funding arrangements and escrow account establishment associated with employer cessations.
- Advising the trustees of a £300m+ multi-employer scheme on multiple employer exits.
- Negotiating RPI/CPI changes with corporate sponsors and their advisers.
- Wind-up of a defined benefit pension scheme followed by a buy-out with UK regulated insurer.
- Advising a European insurer in connection with UK bulk annuity market contracts, including ancillary contractual documents (buy-in/buy-out).
- PPF compliant contingent asset guarantees and security.
- Enhanced Transfer Value exercise for a FTSE 250 employer's scheme.
- Implementation of salary sacrifice arrangements for a range of employers.
- Pension Increase Exchange exercises.
Funding and Investment Strategy for DB schemes – Are the proposed 2023 amending regulations useful, or a Dog’s Dinner?
Key points: Nominally funding is still to be scheme specific but the rules are tightened particularly for mature schemes; Removing deficit as soon as the employer can reasonably afford may… Read more →
Part 1 – Volatility and Ukraine
Published in Pensions Age, Paul Ashcroft discusses volatility and Ukraine, including The Pensions Regulator (TPR)’s latest guidance. The Pensions Regulator (“TPR”) has set out its expectations following the Russian invasion… Read more →
PART 5 – BRITVIC – A JUICY TALE OF INTERPRETATION!
The level of pension increases and the freedom to change the rate used has been the topic of ongoing discussion since the government introduced the use of CPI for revaluing… Read more →
PART 2 – FURLOUGH – DO YOU UNDERSTAND THE IMPACT ON YOUR PENSION ARRANGEMENTS? IT’S NOT TOO LATE TO FIX ANY PROBLEMS!
There is no doubt that the world has changed dramatically in the last few months and many employers have had to react quickly to save their businesses. For many this… Read more →
Ready Reckoner – July 2020
PARLIAMENT Recent Legislation Date Effect Corporate Insolvency & Governance Act 2020 25/6/2020 Attempt to provide lifeline to struggling companies. Measures include suspending enforcement of certain debts, introduction to the UK… Read more →
Wedlake Bell Pensions & Employee Benefits Team Update – TPR’s Annual Funding Statement 2020
Wedlake Bell Pensions & Employee Benefits Team Update – TPR’s Annual Funding Statement 2020 On 30th April 2020 the Pensions Regulator (“TPR”) published the above Statement aimed at employers and… Read more →
Pensions Ready Reckoner April 2020
Clive Weber, Partner, Pensions & Employee Benefits Team. Please contact Clive with any queries on this Ready Reckoner. PARLIAMENT Proposed Legislation Date Effect Pension Schemes Bill 2020 Uncertain due to… Read more →
Part 4 – COVID-19 – GETTING TO GRIPS WITH DB PENSION SCHEMES
The Covid 19 pandemic has impacted many aspects of lives. These unprecedented times continue to pose economic and operational challenges for pension schemes – trustees’ and sponsoring employers of defined… Read more →
Part 3: DC Schemes – Covid-19: Continuation of Employer and Employee Contributions
Many employers and employees alike are facing extreme financial difficulties in light of the COVID-19 pandemic. In the circumstances, it is understandable that employers might seek to make savings in… Read more →
British Airways’ Pensions
British Airways’ pension arrangements are in the news yet again. After much-publicised High Court proceedings over indexation of pension increases under the Airways Pension Scheme (essentially relating to the trustee’s… Read more →
TPR launches its first prosecution for failure to auto-enrol staff
Automatic enrolment (“auto-enrolment”) – a familiar phrase Every employer should now be familiar with these words. Auto-enrolment. Auto-enrolment was introduced five years ago, in October 2012, and was talked about… Read more →