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

 
    Employers taking charge of pension issues
    6 April 2016

    This quarter has seen the release of our scheme funding survey and new guide for employers. Employers have a key input into covenant, investment and funding issues and they may not have realised their influence and the alternatives that are available to the status quo. Armed with some new ideas, employers can be proactive and confident when engaging with trustees.

    Read full bulletin here

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    6 April 2016: 10 years after A-Day
    5 April 2016

    6 April 2006 (‘A-Day’) saw the introduction of a new ‘simplified’ tax regime for pensions as well as a number of other important developments. Ten years on, 6 April 2016 looks likely to be an equally significant date.

    Read full briefing note here

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    More stirring of the pensions pot
    16 March 2016

    ​Until just under two weeks ago, virtually everyone was expecting a major announcement on pensions tax relief in the Budget. In the end, the Chancellor turned out to have marched his troops up to the top of the hill only to march them (most of the way) back down again. However, he has kept alive the concept of the pensions ISA in the idea of a new Lifetime ISA which will operate alongside existing registered pension schemes.

    Read full news alert here

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    An update on European pensions developments
    25 February 2016

    Aside from the drama of the launch of the EU Referendum campaigns, the last few weeks have also seen two key European pensions developments. On 25 January 2016, the European Parliament voted on amendments to the revised IORP (Institutions for Occupational Retirement Provision) Directive, whilst the following day EIOPA (the European Insurance and Occupational Pensions Authority) published the results of its first stress tests into pensions. This briefing note looks at where these developments leave European pensions policy.

    Read full briefing note here

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

 Events

 
    Demystifying Pension Scheme Investment
    10 May 2016
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    Liability Management Exercises: Making them work
    17 May 2016
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    Liability Management Exercises: Making them work
    24 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