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Grappling with pensions liabilities - are you ready to move to tackle these challenges?

28 August 2019
People on two crossed escalator
The Energy and Industrials sector continues to grapple with how to manage pensions liabilities. Businesses continue to look for innovative ways to streamline their pensions compliance burdens and to reduce liabilities.
The Energy and Industrials sector continues to grapple with the increasing burden of managing pensions liabilities. Businesses continue to look for innovative ways to streamline their pensions compliance burdens and to reduce liabilities, including buy-out or buy-in with insurers and longevity swap arrangements. The market has also seen even more regulatory scrutiny, making it tougher than ever before for directors to ensure regulatory compliance.  Failing to do so now often results in financial penalties and reputational risk. At DWF, help is at hand to support you with the challenges presented by managing this array of tricky and technical pensions issues, which include: 

1. Liability reduction: Looking to reduce pension scheme liabilities? We can help you, including advice on managing employer debts owed to schemes and buy-ins/buy-outs with insurers.
2. Corporate deals: Is your business restructuring? We can advise on focused due diligence to identify pension liabilities and then draft protective warranties and indemnities.  These are often some of the highest liabilities in a transaction so it is crucial to be clear early on. 
3. GDPR: A breach of data protection laws can lead to significant fines and adverse publicity.  We can assist you to ensure that requirements are met, and risks of a breach and the consequences of any breaches are minimised.
4. GMP equalisation: Legal confirmation by the Courts that action should be taken to equalise benefits unequal Guaranteed Minimum Pensions will have significant financial and legal consequences for many schemes and sponsors.  What is best for your scheme? We can help you navigate the legal framework and project plan to ensure this is tackled in the optimum way for your business.
5. Trivial commutation: Looking to reduce costs and membership size? We can help advise on how trivial commutation can be utilised to deliver a benefit while reducing costs.

For more information, please contact our specialist below.

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