Simon advises companies on defined benefit (DB) pension issues including liability and risk reduction exercises, scheme funding and financing, exit strategies, benefit changes and accounting disclosures.
Simon has particular expertise in scheme funding negotiations from the employer’s perspective and has helped many companies agree reduced deficits and recovery plan contributions with their trustees.
He strongly believes that a robust but collaborative approach, rather than an adversarial stance, is the key to successfully agreeing an appropriate outcome with the trustees.
advice to a large multinational financial services company on its funding valuation (including the regulatory capital impact)
advice to a potential lender on the pensions issues facing a company seeking to refinance
purchaser due diligence on a number of corporate acquisitions by trade buyers and private equity houses
vendor due diligence on the sale of a company from private equity ownership to a trade buyer
design and implementation of liability and risk reduction exercises including enhanced transfers, pension increase exchanges and transfers at retirement
development of exit strategies for several clients including asset and liability de-risking actions
- currently advising several distressed companies on the possibility of reaching an 'above PPF compromise' with the trustees of their pension scheme