We believe that well-run businesses will naturally seek to ensure their defined benefit pension obligations are met, from facilitating the triennial valuation process to considering the impact of corporate events on the Scheme. However, we also understand that management will want to focus on the business’ key commercial issues while avoiding making unnecessary concessions to the Scheme.
We help businesses to control the pensions agenda, timetable and outcome by providing independent advice in the following key areas:
- Employer and Scheme Events
- understanding the impact on the employer covenant and the Scheme’s position
- considering the appropriateness, level and nature of any mitigation to be offered to the Trustees
- supporting the Employer throughout negotiations with the Trustees and, potentially, tPR clearance process
- Scheme Funding – the triennial valuation process
- assessing the strength of the employer covenant on behalf of the Employer; summarising findings in clear, straightforward terms
- considering term and affordability of recovery plan to balance the requirements of the Employer and the Trustees
- critiquing and providing analysis of reports produced on behalf of the Trustees
- liaising with the Trustees and their advisors to manage their expectations and ensure appropriate information flow
- supporting the Employer throughout the funding and recovery plan negotiations
- Ongoing monitoring
- developing a monitoring “dashboard” to simplify and improve effectiveness of employer covenant monitoring
- providing regular or ad hoc support and advice to the Employer to mirror the Trustees monitoring regime
For more information please contact Tom Partridge (London and South East), Matt Cowlishaw (Midlands) or Martin Barron (North and Scotland).