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Managing change, distress and winding up

Benefit Redesign and Liability Management

The challenge of operating a defined benefit pension scheme is often as much about risk and uncertainty as the size of liabilities.  A vast range of factors affect the funding levels in a pension scheme. They can often be macro-economic issues that are outside the control of the employer or trustees, and quite unpredictable over the longer term.  Nonetheless, businesses are increasingly looking for certitude in this area, with plans for de-risking their pension arrangements.  Plans often include:

  • amending benefits where possible
  • changing investment strategies
  • buying in insurance policies and/or buying out benefits to the insurer, and/or
  • encouraging members to give up certain benefits or transfer their rights elsewhere in return for an enhanced benefit.

These options and any other de-risking proposals require careful legal analysis.  ARC Pensions Law can help determine which options work for you and help to manage the process, ensuring that any risks are appropriately identified and dealt with.

 

Understanding the benefits in the scheme is a fundamental form of de-risking.  Assessment in this area and engagement with trustees is known as ‘safe settlement’, and highly important for any employer trying to keep control of risk and uncertainty. Our expertise in this area is discussed in more detail here.

News
Key considerations for a pensions change project

There are three questions employers should ask before embarking on a pensions change project. First, they should question whether they can make the change. Employment contracts should be checked. If the change would breach the contract it will need varying. ...

ARC highly commended at the 2017 Financial Times PIPA Awards

ARC Pensions Law has been highly commended at the Financial Times' 18th annual Pension and Investment Provider Awards for it's innovation and growth. The PIPAs recognise excellence among providers of products and services to UK workplace pension schemes....

Who’s afraid of the pensions regulator?

In certain circumstances involving schemes in significant deficit, the pensions regulator has powers to pierce the ‘corporate veil’ and can force liability on to the directors and shareholders on a non-fault basis....

ARC Pensions Law

is a dedicated, specialist firm of pension lawyers. We focus entirely on workplace pension schemes.

Our vision

is to provide top quality, value-for-money legal services to those responsible for running workplace pension schemes, and thereby to help schemes deliver the promised benefits to members.

Our strategy

is to employ pension lawyers and staff with top-quality experience and enable them to work in a modern way, operating on a bespoke, lean and adaptable platform.

ARC Pensions Law is a dedicated, specialist firm of pension lawyers. We focus entirely on workplace pension schemes.

Click here to go to our services