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Pensions is evolving - are you ready to evolve?

28 August 2019
Euro coins
The Technology sector has undergone rapid change in recent years. Employers are now faced with a host of new pensions challenges and are looking to find the optimum approach for their businesses.
The Technology sector has undergone rapid change in recent years. This has meant that pensions arrangements have had to evolve and adapt so that employers are now faced with a host of new issues.  These range from complying with automatic enrolment legislation to implementing new pensions flexibilities, to taking on employees who have been part of public sector outsourcing at some point. Employers and financial directors are increasingly coming under pressure to reduce pensions liabilities (often some of the largest liabilities in a business), meet a growing compliance burden (fenced with penalties and reputational risk) and respond to cyber security breaches. At DWF, help is at hand to support you with the many challenges presented by this increasingly rigorous and evolving pensions environment, including in relation to:

1. Liability reduction: Looking to reduce pension scheme liabilities? We can help advise on the legal pitfalls around transferring to a master trust arrangement and with preparing pre-funding agreements. 
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. Cyber security: Concerned about data breach risks? We can undertake a legal audit of cyber security procedures, particularly, from a compliance perspective and produce an action plan.
4. Employment status: Is your workforce eligible for auto-enrolment purposes? We can review employment contracts for eligibility and advise on recent case developments including Pimlico Plumbers.
5. Public sector transfers: Have you taken on employees as a result of outsourcing contracts (first or later generation), with public sector pensions? We can help with identifying individuals and indemnifying against relevant risk factors, particularly, if undertaking a redundancy exercise. 

For more information, please contact our specialist below.
 

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