Working with your trustees

​This could be in situations such as:

  • reviewing or closing company pension schemes
  • controlling the cost of member options
  • controlling operational risk
 

 Overview

 
​We can help you:
  • understand your scheme’s investment strategy and the options available to your trustees - for example, reducing pension scheme funding volatility through investing in alternative assets or using investment products to safeguard against large drops in equity markets
  • prepare for negotiation with scheme trustees on the future funding of the current pension arrangements
  • effectively present the strength of your employer covenant to your scheme trustees, and negotiate with them on covenant-related issues
  • ensure your pension scheme works for your high earning individuals, with the latest developments in the annual and lifetime allowances handled correctly
  • present a business case to trustees and employees when scheme changes are required, which engages them in the process
  • consult with your scheme trustees when considering a liability reduction exercise to help de-risk your pension scheme

 

 Insights and views

 
    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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    More detail published on lifetime allowance changes
    21 December 2015

    In his March 2015 Budget, the Chancellor of the Exchequer announced his intention to reduce the lifetime allowance (LTA) from £1.25m to £1m from 6 April 2016. Nearly nine months later, we finally have the draft Finance Bill 2016 that will implement this change. This briefing note examines this new legislation, as well as other announcements that have been made recently about pensions taxation.

    Read full briefing note here

    Read more
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    Speak to us

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