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 pension schemes changing their approach to bulk annuities?
    11 August 2017

    It has been 10 years since the term ‘buy-in’ was coined. Initially buy-ins were for all pensioners in a scheme. As the market has evolved and schemes have become more sophisticated in their approach, subsets of pensioner liabilities are now being insured. We are working with clients to build bulk annuity purchases into their journey plans to get them to buy-out efficiently. This approach brings with it questions and decisions for trustees.

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    Scheme funding: the Regulator’s tenth analysis
    3 July 2017

    In June 2017, the Pensions Regulator (TPR) published its tenth annual analysis of valuations and recovery plans, covering valuations with an effective date between 22 September 2014 and 21 September 2015. The analysis covers scheme demographics, assumptions used and details of recovery plans.

    Read full briefing note here

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    Pension scheme levies 2017/18
    3 July 2017

    ​Pension schemes are subject to a number of different levies. This briefing note collates previously published information to help schemes understand how much they can expect to pay in 2017/18.

    Read full briefing note here

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    Queen’s Speech: 27 proposed Bills but no Pensions Bill
    21 June 2017

    ​Today (21 June 2017), the Queen announced the Government’s legislative programme for the next two years, rather than the usual one, at the State Opening of Parliament. As expected, Brexit bills dominate the Government’s agenda, with a host of proposed new laws designed to prepare the UK for a ‘smooth and orderly’ departure from the European Union. 

    Read full news alert here

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    IRM – Are you maximising the chance of achieving your pension scheme’s objectives?
    14 June 2017

    Integrated risk management (IRM) was a key theme of the annual funding statement published by the Pensions Regulator (TPR) in May 2017. An effective IRM approach can inform trustee and sponsor decisions on a scheme’s long-term strategy.

    Read full briefing note here

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    What do the 2017 election manifestos say about pensions?
    5 June 2017

    With the snap general election on 8 June 2017 fast approaching, we take a short guided tour of the recently published manifestos to see what pledges relating to pensions have been made.

    Read full bulletin here

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

 Events

 
    Trustee Knowledge & Understanding (TKU) Course
    7 September 2017
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    How Smarter Analytics can Improve your Influence on Scheme and Member Outcomes
    12 September 2017
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    Investment Masterclass: Alternative Ways of Managing Risk
    21 September 2017
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    Annual Pensions Conference 2017
    28 September 2017
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    Investment Event: Practical Advice for DB Pension Schemes
    5 October 2017
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    New Investment Trustee Training Course (Half-day)
    11 October 2017
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    Trustee Knowledge & Understanding (TKU) Course
    8 November 2017
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    Pension Scheme Valuations: "The Big Opportunity” Valuation Masterclass
    9 November 2017
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    New Trustee Training Course: Funding, Covenant and Integrated Risk Management (Half-Day)
    21 November 2017
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    Getting Ready for your next Pension Scheme Valuation
    23 November 2017
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    Investment Event: Practical Advice for DB Pension Schemes
    13 December 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