Pension Scheme Advisory

The Pensions Act 2004 and subsequent legislation has fundamentally changed the way that work-based pensions are regulated.  The legislation places greater responsibility on trustees for ensuring that defined benefit schemes are properly administered and funded.  The responsibilities on trustees for satisfying the funding requirements can be onerous, particularly with so many schemes in deficit.  The obligations falling on the employers are similarly onerous, as they are ultimately responsible for the risks in their schemes.  Employers operating defined benefit pension schemes have seen the costs rising dramatically and will probably continue to do so for years to come.  Having a clear and identifiable strategy for managing and de-risking scheme liability is often associated with good corporate and pensions governance.

FRP Advisory offers a range of services to trustees, employers, lenders and other stakeholders.  

Situations where FRP Advisory can help:

• Covenant review to support a scheme specific funding valuation
• Covenant review to support a principal employer recovery plan
• Covenant review to assess the impact of corporate transactions, including share redemptions, dividend distributions, re-banking, refinancing, mergers, demergers, acquisitions and disposals
• Assistance in negotiations between stakeholders in respect of scheme funding, recovery plans, clearance applications, deficit mitigation and schemes apportionment arrangements
• Evaluation of the impact on the scheme of the reorganisation of the principal employer, as a result of financial difficulties and inability to service its pension obligations
• Advice regards defined benefit pension scheme de-risking and deficit management strategies.

Find out more about the work we do within the sector , or contact a member of the FRP Advisory pensions team using the online form below