Pensions, especially Defined Benefit Schemes, are an area of increasing challenge and complexity both for the sponsoring company and the trustees of the scheme. Increasing longevity and falling returns add to the potential problems faced by directors of employer companies and trustees of the schemes.
At Cork Gully our team can advise on a variety of pension issues including developing commercial solutions to manage pension deficits.
Our services also include:
We can advise directors and trustees on either the purchase or sale of a business with a Defined Benefit Scheme, taking into account such factors as:
- Structure of the transaction for the optimal result
- Obtaining clearance from the Pensions Regulator and the Pension Protection Fund
- Analysis of the potential outcome on the pension scheme of any transaction being considered
- Assisting directors/trustees in any negotiations with the purchaser/seller of the business
Cork Gully can provide an independent review to trustees to assess the ability of the sponsoring employer to meet its obligations to the pension scheme. Our team will also advise on strategies to enhance the position of the scheme and improve future funding.
Should the employer’s covenant be in danger of being breached we can advise the trustees of the strategies which both they and the directors of the company should be considering. In addition, our team can advise all classes of creditors who may be affected by the subsequent insolvency of a company with a large pension deficit.