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

 
    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

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    The debate on how to measure scheme funding liabilities
    6 October 2016
    “Pension Scheme liabilities are at all time highs” and “Gilt yields are at all time lows” are some of the current headlines within the defined benefit (DB) pension world so you could be forgiven for concluding that UK DB pensions are systematically in crisis. However, should liabilities and gilt yields be as closely linked as the headlines suggest? This quarter we focus on alternative discount rate methodologies for funding purposes and take a look at expected accounting assumptions at 30 September 2016. We also provide our usual updates on PPF levies and the buy-out market.  Read full bulletin here
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    Stormy waters ahead for pensions?
    6 September 2016

    ​Whilst we may have seen fewer thunderstorms this year than in previous summers, there has been no shortage of developments which could signal stormy weather ahead for pensions, including a Cabinet reshuffle, recent high-profile developments relating to the British Steel and BHS pension schemes and the prospect of a new Pensions Bill. All this takes place in the context of the vote to leave the European Union, which we have already considered in our briefing note ‘What does Brexit mean for pension schemes?’.

    Read full pensions bulletin here

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    21st century trusteeship and governance
    24 August 2016

    ​In July 2016, the Pensions Regulator (TPR) published a discussion paper on how trustee boards can meet the challenge of pension scheme governance in the changing pensions and economic landscape of the 21st century. TPR is seeking views by 9 September 2016 on a number of topics, including whether there should be minimum qualifications for professional trustees or Chairs of trustees and whether Chairs should be required to produce a governance statement for defined benefit (DB) schemes.

    Read full briefing note here

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    What does Brexit mean for pension schemes?
    26 July 2016

    On 23 June 2016, the UK voted to leave the EU, but it remains unclear when our exit (otherwise known as ‘Brexit’) might be triggered and on what terms. In the face of such uncertainty, trustees and sponsors of pension schemes should be considering the short-term effects on their funding and planning for the possible longer-term implications of Brexit.

    Read full briefing note here

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    What options are there for managing the DC governance burden?
    20 July 2016

    ​In November 2013 the Regulator introduced a Code of Practice (Code) for the governance and administration of trust based DC schemes. Legislation came into force on 6 April 2015 introducing further requirements, including a mandatory annual Chair’s statement. A new update Code, together with accompanying guidance, is to come into force on 28 July. This note explores the options available to trustees and sponsors looking to manage their DC governance burden.

    Read full briefing note here

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

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