These arrangements are often on a centralised basis with no segregation of assets or liabilities. An example of such an arrangement is the Pensions Trust.
Participating in a non-associated multi-employer arrangement with non-associated employers can lead to an interesting set of issues. For example, managing any orphan liabilities that have been built up and dealing with the lack of control over issues like funding, investment and contributions. It is important that the pension costs are properly understood and managed by all employers including charities to prevent them becoming a major risk to future activities.
The services we can provide to employers in these arrangements include:
We advise a number of clients and each employer and arrangement requires a different level of support and assistance - the work we have carried out for these employers has ranged from several hundred pounds upwards.
As a result of our experience we are well placed to help employers who participate in non-associated multi-employer pension arrangements.
We have advised a number of employers in The Pensions Trust including the following sections:
We have also advised employers who participate in other non-associated multi-employer pension arrangements such as the Merchant Navy Officers Pension Fund (MNOPF) and the Milk Pension Fund.
DB pension plans are entering a new phase in their decades-long journey from valuable employee benefit to legacy financial arrangement.
Defined benefit pension schemes are widely acknowledged to be in decline and entering an era of run-off. However as is often the case with pensions, the timeframe over which this is expected to play out is, shall we say, a little longer than normal!
The PPF is proposing a transitional adjustment where companies would otherwise see an increase in their levy solely as a result of the move to the FRS102 accounting standard. We explain this, and other proposed changes to the PPF levy rules.
In this issue of Benefact, we discuss our latest 'Generation Why?' survey, PPF levy consultations and Non-Associated Multi-Employer Schemes for DB pensions, TPT Retirement Solutions Growth Plan Series 3 and GDPR.
In our latest edition of News on Pensions we bring you the latest news from The Pension Protection Fund, The Pensions Regulator and The Department for Work and Pensions.
This edition of Current Pensions Issues includes updates on a further deadline extension to HMRC's guidelines on VAT on pension costs, the Treasury's proposal to use DC funds to pay for retirement advice and a review of other current pensions tax issues.
Highly competitive insurer pricing compared to gilts is providing extremely attractive opportunities for schemes to remove both financial and longevity risks.
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.
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.