Advisory services
In a world where change is inevitable, it is important that pension trustees are kept up to date on legislative developments affecting occupational pensions.
Saying this, we feel it is just as important not to bombard our clients with information for the sake of it. Our approach is to keep our clients informed about issues that will ultimately and materially impact on their pension schemes. Our communications provide timely, but succinct, advice on the generic issues. These are followed up with specific written or verbal advice as appropriate.
 

 Overview

 
Our clients tell us they value our advice because we say what we think and go the extra mile to provide solutions that address their real issues. This is what makes Punter Southall different.

Another differentiator is the depth of resource offered by the Punter Southall Group.  We have specialist teams covering all the services needed by defined benefit pension scheme trustees, including:

  • guidance to trustees on the implications of their sponsoring employer's proposals for pension scheme redesign
  • investment consulting solutions that deliver across the whole spectrum of trustee requirements
  • advice on assessing and monitoring the employer covenant
  • expertise in buy-outs, buy-ins and other de-risking products
  • advice on corporate activity affecting the pension scheme, including corporate transactions
  • advice relating to re-broking and monitoring of trustees’ insurance arrangements
  • individual advice to pension scheme members
  • advice on the management of Pension Protection Fund levies
 

 Insights and views

 
    Pensions Bulletin - March 2013
    6 March 2013
    In our latest Pensions Bulletin, we ask whether it is time for more joined-up thinking on pensions: do the various recent initiatives suggest that Government departments are working together to achieve the right balance between reform and continuity in the pensions system? The Bulletin also looks at some other recent developments, including ‘micro pot’ refunds, changes to the disclosure requirements and DC pension charges.
     
    In addition, the Pensions Bulletin flags key dates for your diary over the next quarter, including some Punter Southall events.
     
    View the bulletin


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    What if... smoothing is allowed?
    21 February 2013

    What is the current position?

    Actuarial valuations are undertaken based on market prices and yields on the date of the valuation. Assets are taken at market value and liabilities are priced using discount rates set with reference to gilts or other similar markets on the valuation date. Gilt yields have fallen significantly over recent years due in part to quantitative easing and this has led to widening deficits.

    View the hot topic

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    PPF Levies - Jan 2013
    14 January 2013

    ​On 17 December 2012, the Board of the PPF issued the final determination confirming how the levy will be calculated for the 2013/14 levy year. This confirmed that the proposals in the September 2012 consultation will be implemented, together with some additional tweaks.

    View the briefing note

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    The PPF levy: proposals for 2013/14
    12 October 2012
    On 25 September 2012, the Board of the PPF issued its consultation document and draft determination proposing how the levy should be calculated for the 2013/14 levy year.
     
    View the briefing note
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    High Earners & Contributors: Survival Guide
    10 September 2012
    Update: September 2012
     
    We are now producing additional survival guides on some of the more technical aspects of the new taxation regime. If you would like to see any of these notes, please contact Sarah Tolson for a copy.

    14: Multiple Normal Pension Ages and the annual allowance
    13: Scheme pays in the year of retirement
    12: How deferred members may be caught by the annual allowance charge
    11: Using pension benefits to pay the annual allowance charge: scheme pays in practice
    10: HMRC provides further detail on fixed protection
    9: HMRC revises its interpretation of the carry-forward rules
     
    Further notes will cover topics such as on the ‘carve-out’ from the annual allowance for deferred members, the valuation of benefits for the purpose of the annual allowance and the new ‘scheme pays’ provisions.
    -------------------------------------------------------------------------------------------------------------
    In the 2009 Budget, the Government announced fundamental changes to the way that pensions will be taxed from 2011 for high earners and introduced immediate measures designed to prevent individuals increasing their pension savings in anticipation of these changes.

    These changes will affect not just high earning individuals but also companies, trustees and pensions managers. At the Punter Southall Group, we can draw on a range of expertise to enable us to provide advice to all of these parties. We can ensure that:
    • companies have the right remuneration strategy in place for their key staff;
    • individuals make the right decisions on their pension based on their circumstances; and
    • trustees can implement the new information and administration requirements effectively.
    We are now launching our “High Earners & Contributors: Survival Guide”. Through a series of straightforward and focused briefing notes, we will help you to develop an understanding of the changes ahead and keep you up to date with developments as they occur.
     
    Note 6: What do the annual allowance changes mean for pension schemes?
     
    Note 5: More detail on the tax changes emerges
     
    Note 4: Annual allowance approach confirmed  
     
    Note 3: HM Treasury consults on alternative approach  
     
    Note 2: Annual allowance: an alternative universe 
     
    Note 1: High earners: five key tax changes – will you be ready?
     

     

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    Pensions Bulletin - September 2012
    6 September 2012

    In this issue:

    •    Playing the waiting game
    •    Playing the waiting game: speed read
    •    Behind the scenes
    •    Other recent developments
    •    Publications round-up
    •    Dates for your diary

    Download a copy


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    GMP equalisation: has the DWP woken a sleeping dog?
    27 February 2012
    On 20 January 2012, the Department for Work and Pensions (DWP) published for consultation a possible method for equalising overall scheme benefits to take account of Guaranteed Minimum Pension (GMP) rules. Many ongoing schemes have not to date addressed GMP equalisation owing to legal uncertainties and could now find they have the headache of an expensive administration exercise to carry out.
     
    View the briefing note

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    Visit the Industry Insights page for news and views on the latest industry developments
 

 Events

 
    Dealing with the Challenges of Pensions Taxation
    11 June 2013
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    The DB GameChanger: The Regulator’s New Funding Objective
    18 June 2013
    For Trustees, Finance Directors and those responsible for Pensions and Corporate Risk
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    De-risking Masterclass
    25 June 2013
    Read more
    Auto-enrolment Workshop for HR and Payroll
    26 June 2013
    Read more
    Trustee Training - Trustee Knowledge and Understanding (Intensive)
    25 September 2013
    This course addressed the knowledge and understanding requirements
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    2013 Pensions Conference
    10 October 2013
    A Conference for Trustees, Finance Directors and Pension Managers
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    De-risking Masterclass
    21 November 2013
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    De-risking Masterclass
    28 November 2013
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    Trustee Training - Trustee Knowledge and Understanding (Intensive)
    3 December 2013
    This coursed addresses the knowledge and understanding requirements
    Read more
    Visit the Events area for all forthcoming Punter Southall seminars, conferences and events
    Speak to us
    Speak direct to our specialists in this area
    Adam Stanley
    Head of Trustee Services
    Email Adam
    Or call us on
    020 3327 5000