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Barnett Waddingham
0333 11 11 222
Our expanding client base includes many household name multinationals as well as less well-known SMEs.

Our expertise is focused around the following:

  • DB pensions risk management - many employers have taken steps to limit their pension scheme exposure by closing their DB scheme to new entrants and increasingly to future accrual. This still leaves them with a legacy liability that needs to be managed. Winding up the scheme immediately is not a viable option for most employers but a coordinated de-risking strategy could be established to exploit opportunities as they arise. 
  • Buy-out and buy-in - many trustees and employers are actively considering the option of insuring their scheme liabilities with a bulk annuity insurer through a buy-out or buy-in policy. When considering a buy-out or buy-in of a scheme's liabilities, it is important that the trustees and employer prepare carefully for a transaction in advance so that a deal can be completed efficiently. 
  • Accounting for pension schemes - the funding positions of pension schemes disclosed in company accounts can be highly volatile. It is vital that company directors understand the possible impact their final salary scheme can have on the company balance sheet and the profit and loss position. 
  • Scheme funding negotiations - the ever increasing compliance burden placed on trustees is inevitably leading them to play ‘hard ball’ with their sponsoring employers over the funding of schemes. Therefore, it will often be beneficial for employers to seek independent advice to support their negotiations with the Trustees.
  • PPF levy advice – the levy is often a significant expense for an employer to bear and although addressed to the trustees the cost will ultimately fall on the employer. It is therefore important for employers to explore every possible option for minimising the levy. 
  • Benefit design - more flexible working practices and greater diversity in the workplace have resulted in greater variety in employee benefit packages. 
  • Transactions - one of the most financially significant aspects of a corporate transaction is often a pension scheme deficit. The Pensions Regulator and scheme’s trustees are also playing a much greater role in the deal process so it is vital to consider the pension scheme at an early stage. 
  • Outsourcing – when taking on staff as part of an outsourcing arrangement, employers may become responsible for the employees’ historic pensions promises, meaning any unexpected costs from the pensions could dwarf any other margins in the contract price.
  • Non-associated multi-employer schemes - provision of actuarial services to employers who participate in non-associated multi-employer schemes. This includes support on actuarial valuations, employer debt and de-risking options.
Barnett Waddingham Illuminate
Barnett Waddingham Illuminate

Illuminate is our specialist tool designed to guide trustees and sponsors through the financial management of their scheme.

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Finance Directors' Guide to Pensions

This guide provides FDs with a single source of clearly written information, keeping you up to date with the most important pensions' issues.

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Related knowledge and resources

Blogs

  • Master Trust Schemes

    This briefing note considers workplace defined contribution (DC) pension provision delivered through master trust schemes – explaining why they are being increasingly used and how we can support companies.

  • PerioDiC

    In this edition of our PerioDiC newsletter, we summarise the trustee, company, and other elements to be aware of which help with running a defined contribution (DC) scheme.

  • News on Pensions December 2016

    In our latest edition of News on Pensions we bring you most recent news from The Pension Protection Fund, The Pensions Regulator and The Department for Work and Pensions.

  • Dec 7 2016
    Accounting for pensions: how to reduce your deficit

    Since 31 December 2015 the liability value of a typical pension scheme has increased by 25%. This increase can have real consequences; our webinar will guide you through the simple steps you can take to mitigate these.

    Location: Webinar

  • Nov 29 2016
    A practical guide to Integrated Risk Management

    During this webinar, our experts will share their insights on the pragmatic application of Integrated Risk Management and how this can benefit your scheme.

    Location: Webinar

  • Picture for French companies with UK defined benefit schemes
    French companies with UK defined benefit schemes

    This survey looks at French companies, almost all of which are constituents of the CAC40 index, which have UK subsidiary companies with DB pension schemes. The survey covers 14 French companies with around £22.2bn of UK pension liabilities between them.

  • Picture for Dutch companies with UK defined benefit schemes
    Dutch companies with UK defined benefit schemes

    This survey relates to constituent companies of the Dutch AEX share index that have UK subsidiary companies with defined benefit (DB) pension schemes. The survey covers seven Dutch companies with around £9.3 billion of UK pension liabilities between them.

  • Picture for German companies with UK defined benefit schemes
    German companies with UK defined benefit schemes

    This survey examines German companies, the majority of which are constituents of the DAX index, which have UK subsidiary companies with DB pension schemes. The survey covers 21 German companies with around £26.4bn of UK pension liabilities between them.

Barnett Waddingham PPF Levy Forum
PPF levy forum

Have you ever wanted a guide to the workings of the PPF and the way levies are assessed? You'll also find practical advice on how to manage your scheme’s PPF levy.

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