M&A: Getting to grips with the impact on schemes

Simon Kew

From the blog: All over the world corporates are rebuilding their balance sheets, accumulating record levels of cash and having their valuations boosted by upturns in stock markets.

All of this, along with other factors, means they are looking to grow by merging with or taking over other companies.

For sponsors and trustees of pensions schemes in the UK that are faced with a corporate merger or acquisition, there is one clear message I’d like to get across…

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National Trust DB scheme closes to future accrual after deficit jump

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Conservation charity the National Trust is closing its defined benefit scheme to future accrual following a large increase in the deficit, but the union is considering further action to reopen negotiations.

High-earner tax relief threat poses new challenge for employers

News analysis: Scrapping tax breaks for high earners could present a communication challenge for trustees, as the government weighs up ideas for potentially radical reforms of the current pension tax relief system.

Holiday reading: Transfers and exit charges – consultation basics

From the blog: The government has today launched a 12-week consultation into pension transfers, early exit charges and the provision of financial advice.

But why, you ask, when the Pensions Regulator and the Financial Conduct Authority are already undertaking their own analyses? 

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July's top stories in 3 minutes

Vizcast July TEASER

In this inaugural Pensions Expert Vizcast, editor Maxine Kelly and senior reporter Tom Dines provide a whistle-stop tour of the month's most significant news and case studies, covering derisking exercises and the Summer Budget (3:10).  

LGPS sharpens focus on collaboration as consultation looms

News analysis: Local authority schemes are poised for the outcome of a consultation on collaboration which could compel them to pool their investment assets to save on costs.

 

Comment & Analysis

Reshaping DB: Why we can't afford to repeat the mistakes of the past

Rob Gardner TEASER

Talking Head: Defined benefit schemes cannot afford to repeat the mistakes of the past. Redington's Rob Gardner makes the case for a new way. 

Too big to fail: Could some UK schemes pose systemic market risk?

Tom Partridge & Simon Kew

Rash investment decisions made by pension schemes could destabilise the economy. Deloitte's Tom Partridge and Simon Kew explore just how much of a threat this poses in the UK.

What we can learn from the Nortel ruling

The Nortel ruling made legal history and brought hope to the UK's pension trustees, but Walker Morris's Ruth Bamford questions whether it has set a precedent for other litigation cases.

Video

Video: Regulator promises 'short, punchy' DC code

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Video: The Pensions Regulator's chief executive Lesley Titcomb outlines the watchdog's key areas of focus – including a revision of the DC code, the freedom fallout and mastertrust assurance, and touches on the argument for a single regulator (6:11). 

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