Buy-out and Risk Management




We can help you with:

  • identifying the key risks – schemes are typically exposed to risks such as sponsor risk, investment risk, inflation risk and longevity risk.  Understanding the extent of the risk currently being taken in each of these areas is a fundamental first step to determining an appropriate risk budget.

  • managing investment risk – understanding the impact of the investment strategy on the volatility and future expected funding position of your pension scheme, including the potential use of swaps and other investment products to manage risk.

  • analysing and executing a buy-out or buy-in – our specialist buy-out team has advised and managed dozens of pension schemes through a wide variety of buy-in and buy-out processes since 1999, focussing on meeting our clients’ specific needs in a timely and cost-efficient manner.

  • assessing longevity swaps – we have conducted detailed research into this nascent market and developed a market-leading bespoke longevity tool to help schemes assess their exposure to longevity risk and consider the effective price of entering into a longevity cash flow swap or longevity index hedge.

  • establishing trigger points – allowing a scheme to identify the right time to implement a risk management solution. The success of risk management solutions are affected by the timing of their implementation. We can help identify key events and optimal timings that should trigger the undertaking of risk management solutions. This could be achieved through the use of an online daily valuation tracker tool which monitors the progression of a scheme’s  funding position.

  • covenant advisory service - this is an area  where we can provide specialist services to assist pension scheme trustees in assessing and monitoring the strength of the employer covenant. Click here to learn more about our covenant advice service for trustees.



 Insights & views

    The Impact of Deflation on Occupational Pensions
    27 March 2015

    The Consumer Prices Index (CPI) was unchanged in the year to February 2015 (i.e. the 12 month rate was exactly 0.0%), a record low. With further falls in inflation later this year seeming a distinct possibility, we consider the impact of deflation on occupational pension schemes.

    Click here to view briefing note

    Read more
    Pensions Bulletin September 2014
    4 September 2014
    69 AD is known to ancient historians as ‘The Year of Four Emperors’. It was a year in which four men in turn (Galba, Otho, Vitellius and Vespasian) tried their luck at the imperial throne following the death of Nero. For pensions professionals, 2014 will be remembered as the ‘Year of Four Bills’.

    Read more
    Pension Schemes Bill redefines pensions (again)
    14 July 2014

    The Chancellor’s Budget announcement of greater flexibility over retirement benefits has led to a major reinterpretation of what the word ‘pension’ means in a defined contribution context. Meanwhile, the Department for Work and Pensions
    (DWP) has been working on its own redefinition of pensions in a wider context, in the shape of the Pension Schemes Bill, which was laid before Parliament on 26 June 2014.


    View the briefing note

    Read more
    Pensions Bulletin March 2014
    10 March 2014

    In the latest issue of our Pensions Bulletin, we focus on journey plans and integrated risk management plans in the light of the Pensions Regulator's draft code of practice on DB funding. The Bulletin also looks at some other recent developments, including the impact of same sex marriage on occupational pension schemes and HMRC’s recent announcement on changes to its VAT policy.

    Read more
    Pensions Bulletin September 2013
    9 September 2013

    In our latest Pensions Bulletin, we examine the increased regulatory focus on defined contribution (DC) schemes, with a new code of practice from the Pensions Regulator for trust-based DC schemes, a DWP call for evidence on minimum DC quality standards and a review of scheme charging structures by the Office of Fair Trading.

    The Bulletin also looks at some other recent developments, including a recent European case on the recovery of VAT and the appointment of a new PPF insolvency risk provider.

    In addition, the Pensions Bulletin flags key dates for your diary over the next quarter, including some Punter Southall events.

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


    Getting Ready for Your Next Pension Scheme Valuation
    26 November 2015
    Read more
    Implications of the Budget Pensions Changes
    5 November 2015
    Read more
    Pensions: where next?
    21 October 2015
    Read more
    Power Hour: the big issues in pensions, healthcare & wellness and risk
    20 October 2015
    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
    Or call us on
    020 3327 5000