Managing cost

Our range of employer advisory services, modellers and online tools enable employers to ensure costs are controlled whilst corporate objectives are satisfied.
 

 Overview

 
The next step for any employer with a final salary pension scheme deficit is to agree an affordable recovery plan.

We can help:
  • ensure you have up-to-date knowledge on your scheme’s position through our online tools
  • understand the expected developments in, and options for change for future pension arrangements, enabling you to ensure your pension provision is affordable and sustainable
  • negotiate with trustees about de-risking initiatives, benefits changes and pension scheme funding assumptions, in particular managing the approach taken to agreeing the level of prudence
  • plan for the introduction of auto-enrolment from your staging date – for example, by helping you prepare for the potentially higher pension costs, or understanding the impact prior to a merger or acquisition
  • minimise the risk-based levy payable to the Pension Protection Fund (PPF) by taking actions which reduce the assessed pension deficit and assumed probability of insolvency

 

 Insights and views

 
    Are you meeting your record-keeping duties
    9 January 2017

    On 30 November 2016, the Pensions Regulator (TPR) published various papers relating to record-keeping. TPR has said that many schemes are not meeting its record-keeping expectations and has confirmed that it will require trustees to report on their record-keeping in the scheme return.

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    January 2017 and a Happy New Year to all
    6 January 2017

    It’s been a rollercoaster year, but we reached the end. Bond yields slid downwards over the year and, like many of us, were at their lowest ebb at the end of the summer holidays. Yields have since climbed, but took a dip at the end of the year as festivities kicked in. Whether we’ve emerged unscathed by political events is yet to be determined and we will have to wait and see what 2017 will bring. 

    Read full bulletin here

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    Ten key dates for 2017
    5 January 2017
    2016 was another eventful year for pensions with 6 April 2016 seeing the introduction of the new state pension and the final demise of contracting out. However, the major reforms to pensions taxation that had been anticipated failed to materialise in the 2016 Budget.
     
    2017 looks set to be another busy year for pensions, with  a number of key dates for the diary ahead of us.

    Read full news alert here

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    Will CPI change in 2017?
    13 December 2016

    ​On 10 November 2016, it was announced that, from March 2017, CPIH would become the Office for National Statistics’ preferred measure of inflation. In this note we consider the potential impact on occupational pension schemes and other recent developments on consumer price indices.

    Read full briefing note here

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    The Times They Are a-Changin’
    5 December 2016

    Whilst it is probably fair to say that Bob Dylan’s 1964 folk classic ‘The Times They Are a-Changin’’ was not focused on defined benefit (DB) pension schemes (which for some reason are rarely an inspiration for songwriters), the lyrics penned by this year’s winner of the Nobel Prize for Literature could be used to describe the pensions landscape as we near the end of 2016.

    Read full pensions bulletin here

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    Autumn Statement 2016: steady as she goes?
    23 November 2016

    The Autumn Statement was a relatively quiet affair from a pensions perspective, with only a few minor announcements. However, in some ways, it was perhaps too quiet, with no hint as to whether further changes are planned to the framework of pensions taxation. Arguably we have no more idea of the new Chancellor’s views on what incentives should be given for people to save for the long term and/or their retirement than we had before he stood up at the despatch box.

    Read full news alert here

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    PPF consultation on the 2017/18 levy and other publications
    27 October 2016

    ​On 22 September 2016, the Board of the Pension Protection Fund (PPF) published a consultation document on the 2017/18 levy. The consultation closes on 31 October 2016 and only minor changes are proposed. The PPF has also recently published other consultations and documents.

    Read full briefing note here

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

 Events

 
    Pension Scheme Valuations in Volatile Times
    26 January 2017
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    Trustee Knowledge & Understanding (TKU) Course
    8 February 2017
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    LGPS Training for Admission Bodies - New Course
    23 February 2017
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    Pensions and Investments in Uncertain Times
    9 March 2017
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    Pension Scheme Valuations in Volatile Times
    16 March 2017
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    Pension Scheme Valuations in Volatile Times
    18 May 2017
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    Trustee Knowledge & Understanding (TKU) Course
    14 June 2017
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    Investment Masterclass: Practical Advice for DB Pension Schemes
    22 June 2017
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    Trustee Knowledge & Understanding (TKU) Course
    7 September 2017
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    Trustee Knowledge & Understanding (TKU) Course
    8 November 2017
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    Visit the Events area for all forthcoming Punter Southall seminars, conferences and events
    Speak to us

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