Discover the Experts Powering Your Financial Success

We provide specialist advice to pension scheme trustees on employer covenant reviews, pension funding arrangements, deficit repair contributions, flexible apportionment arrangements and pension debt compromises.

Under Director Robin McGregor, our consultants fuse long-standing chartered accountancy credentials with commercial foresight, so every assignment benefits from impartial, evidence-based guidance covering investment readiness, valuation modelling, turnaround planning and investigative review.

Employer Covenant Review

The Pension Regulator now requires the Trustees to evaluate the Employer Covenant by reference to the Reliability and Longevity Periods. We have more than 20 years experience of carrying out employer covenant reviews and the new requirements throw much greater attention on the Employer’s short-term cash flows and more broadly the impact of the economic challenges facing the Employer.

Flexible Apportionment Arrangement

A Flexible Apportionment Arrangement (FAA) allows a Defined Benefit Scheme’s pension liabilities to be transferred from one Employer to others without immediately triggering a section 75 debt (caused when an Employer ceases to employ at least one active member).

A FAA provides a means to ensure continuity of funding for a Scheme by avoiding an insolvency event, but gives an Employer an opportunity to restructure or sell parts of its business.

Our role is to advise the Trustees whether the funding test is met: can the remaining employers support the Scheme and are the members benefits maintained?

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Concise, evidence-led guidance for pivotal choices.

Genuinely Independent, Unbiased Advice

Our loyalty is yours alone, not lenders.

Thirty Years’ Demonstrated Expertise

Tap into our transaction experience.

Joint Client Partnership Ethos

We work with you.

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Deficit Repair Contributions

We can advise the Trustees on what level of contributions an Employer can afford or we can review the financial information provided by an Employer in support of their request to temporarily reduce their contributions to the Scheme.

Our work would likely require a detailed evaluation of the employer’s financial position, order book, business model and resulting financial projections. Our conclusions would also consider the risks of refusing the Employer’s request.

Compromise of Pension Debt

We have experience of advising Trustees in the unusual position of negotiating with the potential purchasers of an Employer, over a proposal to reduce the pension scheme liabilities. We can provide advice to the Trustees based on an analysis of the various possible outcomes, highlighting the risks inherent in each scenario.

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