Strategy

Our strategy/structural change service provides support in identifying relevant issues and making decisions in complex pensions situations.

Our strategy service is designed to offer specialised support in complex situations where sponsors, trustees and investors are confronted by material change – often at short notice. Change could arise from a corporate transaction, corporate or scheme restructuring, fundamental changes in the sponsor’s business or group, or in fundamental changes in the legal or regulatory environment. The support could include temporary appointment to the trustee board if needed.

Pensions issues are complex and the party proposing change will have done substantial preparation. Others affected – often the scheme trustees – will usually be required to act quickly. The issues for decision are likely to be difficult, and while trustees will obtain advice from their usual advisers, they may seek additional reassurance. Existing advisers may be constrained by the wish to remain in post after the transaction or have history with the employer that makes negotiation difficult. Specialist experience and skills may also be needed to deal with public bids or leveraged private equity transactions.

Trustee co-operation is usually essential and advice may be needed on how best to achieve it. Overseas investors in particular may look for an independent view of the context of the transaction separate from UK management and usual UK advisers.

Jane Marshall Consulting will assess the relevant issues, context and players. We will scope the work required by identifying any gaps in the advice already being obtained, and discussing desired and possible outcomes. Our independence, experience and knowledge of – and relationships with – intermediaries and City institutions mean that we can provide the help that is needed. Our willingness to accept responsibility by taking on temporary trusteeship if appropriate, our legal advisory and transactional background and our knowledge of private equity and public bids positions us as the ideal partner in these complex situations.

 

Managing risks in DC plans

As the global movement to DC plans continues to evolve and grow, so do the challenges. In this paper, originally written for the International IPEBLA Conference in May 2015, we determine how best to identify and manage risks in the new DC plan universe, exploring employer liability in relation to provider selection, as well as [more…]

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