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

 
    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

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    Social Housing Pension Scheme (“SHPS”) – 2014 valuation and benefits review
    26 March 2015

    SHPS has recently written to participating employers to provide preliminary results of the 30 September 2014 valuation which, as expected, confirms a significant increase in contribution requirements. This note summarises these preliminary results and also provides details of the results of the employer consultation around future service defined benefit structures from 1 April 2016 and other considerations for SHPS employers.

    Click here to read the briefing note

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    Chancellor extends Flexiday freedoms and cuts lifetime allowance (again)
    18 March 2015

    ​In the last Budget of this Parliament, the Chancellor announced plans to extend the Flexiday   freedoms from April 2016 to individuals who have already purchased an annuity, by reforms intended to create a secondary annuity market. He also announced plans to cut the lifetime allowance from its current level of £1.25M to £1.0M.

    Read full news alert here

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    Issue 11: Flexiday - DB to DC Transfers
    17 March 2015

    ​It now seems a long time since the second note in our ‘Countdown to Flexiday’ series in which we discussed fears that defined benefit (DB) to defined contribution (DC) transfers would be banned. In this note, the eleventh in the series, we discuss the latest developments on DB to DC transfers and the implications for trustees and employers.

    Read full briefing note here

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    Briefing Note Contracting Out
    13 March 2015

    The new single tier state pension will be introduced on 6 April 2016, replacing the existing basic state pension and state second pension (S2P). At the same time, the option for defined benefit (DB) schemes to contract out of S2P will cease to exist. Employers with open contracted-out DB schemes will therefore need to decide how to respond to the abolition of contracting out. A new set of regulations provides one possible route for employers to amend their rules.

    View full briefing note here

     

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

 Events

 
    Getting Ready for Your Next Pension Scheme Valuation
    24 September 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
    Sankar Mahalingham
    Principal
    Or call us on
    020 3327 5000