About Commercial Pensions Solutions
Since the stock market collapses of the turn of century, many UK companies have suddenly become aware of the risks of operating a defined benefit plan.
This, coupled with disappearing surpluses and contribution holidays and increasing costs in ensuring regulatory compliance, have caused many employers to review their pensions provisions and explore how schemes may be restructured to better suit the needs of the IR business.
Changing a pension scheme can be like running an obstacle course. It will involve detailed consideration of both pensions and employment law restrictions.
New legislation will mean employers have to be even more careful if they are to avoid either scheme restructuring (or indeed corporate restructuring within a group) falling foul of the moral hazard provisions contained in the Pensions Act 2004. We excel at overcoming these obstacles and assisting employers of all sizes through the restructuring process.
We also have vast experience in working on the pensions aspects of corporate acquisitions, sales and mergers whether it be preparing warranties, disclosures or pensions schedules. Our experience also extends to dealing with outsourcing, joint ventures, demergers and contracts with public sector bodies.
Examples of recent work in this area are:
- Merger of schemes for two charitable organisations
- Negotiation with Trustees and OPRA in relation to Compromise Agreement
- Establishment of a passport scheme for outsourcing in public sector