Corporate transactions and restructuring

Failure to take adequate care of pension arrangements in a corporate transaction can turn a good purchase into a costly mistake. Whilst pension issues often represent a significant part of a transaction, with the right support they need not be a deal-breaker. Our dedicated team, Punter Southall Transaction Services, can provide succinct, commercial advice to vendors, purchasers, and other corporate entities ensuring any sale, purchase or restructuring runs smoothly and pension liabilities are effectively managed.
 

 Overview

 
Punter Southall Transaction Services can:
  • undertake full international pension due diligence
  • find the best pension solution to maximise value or minimise loss in a corporate transaction
  • negotiate with the pension scheme trustees and target company to provide clarity and certainty on future pension commitments
  • advise on implications of a proposed restructuring or refinancing, and ensure the pension scheme is managed in tandem with any of these corporate activities
  • assist purchasers propose tailored investment strategies to trustees for existing defined benefit pension schemes
  • help investigate ways of minimising and managing the risk and costs associated with defined benefit pension schemes in advance of sale
  • structure post-acquisition solutions for clients including establishing new pension arrangements
Our Transaction Services team has strong private equity relationships, providing advice to more than 25% of London-based firms. To visit the Punter Southall Transaction Services website, please click here.

 

 Insights and views

 
    Pension Protection Levies: Proposals for 2018/19 to 2020/21
    18 May 2017
    On 23 March 2017, the Board of the Pension Protection Fund (PPF) consulted on proposed changes to the levy calculation from 2018/19 to 2020/21. The main proposals relate to the insolvency scoring with the aim of improving its predictability. This includes the use of credit ratings, industry-specific scorecards for financial institutions, a reallocation of sponsors to scorecards and a possible move away from the 12-month averaging of insolvency scores.
     
     
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    Is the Pensions Regulator getting tough on scheme funding?
    16 May 2017

    ​The Pensions Regulator (TPR) has issued its annual funding statement aimed at trustees and employers undertaking valuations with effective dates between 22 September 2016 and 21 September 2017 (2017 valuations). Whilst many of the themes in the statement are familiar from previous funding statements, TPR appears to be taking a stronger position on some issues than it has done previously.

    Read full news alert here

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    CMI 2016… confirmation of a new trend?
    10 May 2017

    The Continuous Mortality Investigation (CMI) released the 2016 version of their model for projecting future improvements in longevity, CMI 2016, in March 2017. This version of the model allows for actual deaths up to the end of 2016 and projects lower future improvements in longevity than the 2015 version of the model.

    Read full briefing note here

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    Has the cut in the money purchase annual allowance been washed away?
    2 May 2017

    As a result of Theresa May’s call for an early general election being approved by the House of Commons on 19 April 2017, Parliament will be dissolved at one minute past midnight on 3 May 2017. 

    Read full news alert here

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    Discounting disconnect and limited longevity?
    6 April 2017

    Does the current low level of gilt yields create a false funding burden for sponsoring employers? Has the pace of increases in life expectancy finally tailed off? We seek to help sponsoring employers understand the issues and look at alternative approaches for pension scheme funding.

    Read full bulletin here

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

 Events

 
    Speak to us

    Speak direct to our specialists in this area
    Richard Jones
    Principal
    Or call us on
    020 3327 5000