Any corporate activity with the potential to be ‘materially detrimental’ to the ability of a DB scheme to meet its liabilities can lead to the Pensions Regulator (TPR) exercising their anti-avoidance powers which can be very penal. It is vital to be aware of the risks inherent in any such activity and, if it is decided to proceed, to mitigate them as far as possible.
Barnett Waddingham’s Corporate Consulting team offer a fresh approach to providing pensions advice around corporate events and in transaction situations. Our team of experienced specialist pensions professionals also understand firms’ typical corporate objectives and the wider business environment in which companies operate.
We have considerable experience in advising on ‘clearance’ and dealing with TPR. We also provide clear and concise vendor or purchaser due diligence services which will vary depending on the needs of the two parties. We are alert to potentially 'hidden' liabilities and provide clear communications on complex pensions issues to provide clients with sound and pragmatic advice.
Some of our recent client work in this area is as follows:
We are well placed to provide:
With pension scheme deficits having the potential to significantly impact a company’s accounts, company directors should be considering ways to improve their UK DB scheme’s funding level.
Now is a good time for companies with June year-ends to consider how their pension scheme liabilities will affect their balance sheet - despite recent falls in equity markets IAS19 funding levels are likely to have held up reasonably well.
The final transaction figures for 2017 confirmed total buy-in and buy-out business volumes have exceeded £10bn, with a combined market figure of £12.2bn for the year. Head of bulk annuities, Gavin Markham explores.
The key financial assumptions required for determining pension liabilities under the Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed) are the discount rate and the rate of future inflation.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under UK and international accounting standards as at 30 September 2018.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under the FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed).
Bulk Annuities: Where next in the de-risking journey? The bulk annuity market hit new heights in 2018. For the first time in history pension scheme buy-in and buy-out transactions exceeded £20bn.
This survey relates to constituent companies of the Dutch AEX, French CAC40, German DAX, Spanish IBEX, Italian FTSE MIB and Scandinavian OMX share indices that have UK subsidiary companies with defined benefit (DB) pension schemes.
This survey relates to Dutch companies, almost all of which are constituents of the AEX index, that have UK subsidiary companies with defined benefit (DB) pension schemes.