Companies are pouring ever increasing sums into their pension schemes, yet still cannot get them under control. The pension reserve in the Company accounts can fluctuate wildly from year to year making financial planning challenging and impacting on share price and borrowing facilities.
Whilst the Trustees and Employer will usually share a common objective of ensuring members’ benefits are paid there are a number of different approaches that can be taken to achieving this. This is where the employer’s objectives may differ and they will benefit from independent advice in developing a strategy that formalises and meets these objectives.
With potential conflicts leading to less and less director level Company representation on trustee boards, employers are turning to their own professional advisers to help them devise a pension strategy. The support required can range from helping the employer develop a long term de-risking strategy to merely negotiating with the trustees over the funding required to keep the scheme going.
Barnett Waddingham are ideally placed to advise employers that sponsor defined benefit pension schemes due to the way we are structured, our commitment to research in this complex area and our approach that focuses on providing uncomplicated and pragmatic advice.
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