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

 
    A new Code of Good Practice for Incentive Exercises
    10 February 2016

    ​In February 2016, the Incentive Exercises Monitoring Board released a revised version of their Code of Good Practice. We take a closer look at the implications of giving wider choices to defined benefit (DB) members as a way of managing costs and risks.

    Read full briefing note here

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    10 questions for the Chancellor
    9 February 2016

    ​The Chancellor has promised to give his response to the consultation on possible fundamental changes to the tax system in his Budget speech on 16 March. While we do not yet know what he will propose, there is widespread speculation that he may be planning to announce a system under which pensions are subject to a uniform rate of tax relief.

    Read full briefing note here

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    PPF confirms details of 2016/17 levy
    15 January 2016

    ​On 17 December 2015, the Board of the Pension Protection Fund (PPF) published final details of how the 2016/17 levy will be calculated.

    Read full briefing note here

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    IRM… what does it look like?
    15 January 2016

    ​In December 2015 the Pensions Regulator (TPR) published its long-awaited guidance on what Integrated Risk Management (IRM) may look like and how trustees should go about putting it in place. The guidance effectively expands the material on IRM provided in Code of Practice 3: Funding of defined benefits, which has been effective since July 2014.

    Read full briefing note here

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    Ten key dates for trustee diaries in 2016
    8 January 2016

    ​2015 was one of the busiest years ever for pensions, with the introduction of the new pensions freedoms in April 2015 creating particular challenges for the trustees of both defined benefit and defined contribution schemes. A look ahead at some of the key dates in trustees’ calendars shows that there will certainly be no slowing of the pace in 2016. In addition, there are a few possible developments that we may see in 2016 that could have the potential to blow existing pensions planning completely out of the water.

    Read full news alert here

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    Hot topics for companies in January 2016
    5 January 2016

    ​An increase in the level of corporate bond yields is positive news for pension scheme accounting deficits and company balance sheets. We take a look at market conditions and accounting assumptions at the 31 December 2015 year end in more detail.

    Read full bulletin here 

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    New draft DC Code of Practice
    21 December 2015

    ​On 24 November 2015, the Pensions Regulator (TPR) published its new draft Code of Practice on the governance and administration of trust-based occupational defined contribution (DC) schemes. It is subject to consultation, which closes on 29 January 2016, and the final Code is expected to come into force in July 2016.

    Read 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 Valuation
    3 March 2016
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    Demystifying Pension Scheme Investment
    17 March 2016
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    Demystifying Pension Scheme Investment
    28 April 2016
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    Demystifying Pension Scheme Investment
    10 May 2016
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    Punter Southall Annual Pensions Conference 2016
    29 September 2016
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    Getting Ready for Your Next Pension Scheme Valuation
    24 November 2016
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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