We work with corporates and trustee boards to provide advice on a range of events in relation to a defined benefit (DB) scheme.
Pension scheme restructuring and insolvency
We support clients where an employer is no longer able to manage their defined benefit (DB) scheme, covering situations where the underlying business may be in distress or it might be profitable.
We work closely with all stakeholders to ensure that any restructuring solutions ensure members are treated fairly and all regulatory bodies. In these situations, the options for dealing with the pension scheme must be considered in detail to ensure all members are treated fairly and any restructuring proposals must be acceptable to The Pension Regulator (TPR) and/or the Pension Protection Fund (PPF) when clearance and PPF entry are required.
We also advise financial stakeholders, particularly lenders, in a restructuring which involves pension schemes, and can provide actuarial advice to help create an affordable post-restructuring benefit structure.
Mergers, acquisitions or disinvestments
We advise corporates and trustees on the change in covenant afforded to the pension scheme as a result of corporate activity due to mergers, acquisitions and divestments and mitigation alternatives as a result of financial detriment.