At its simplest, we offer advice on pricing and assistance with negotiation of defined benefit (‘DB’) liability transfers (whether as a potential result of a carve-out or a stand-alone liability). In more depth we look at costs and risks, and ways to mitigate them at the deal stage or afterwards – together with other opportunities for adding value, such as improving investment returns without increasing risks, or managing the liabilities downwards via member options.
Where possible we also look at creative structural solutions to potential DB transfer problems.
Most often, particularly in the private equity sphere, but also in M&A more generally, there will be a reluctance for an acquirer to take on defined benefit liabilities.
When DB benefits are being left behind, we can advise on and implement alternative DC solutions for the future, including dealing with member communications.
We offer a unique due diligence service for defined contribution schemes (whether trust-based or insurance arrangements such as group personal pensions, SIPPs etc).
We also have unique specialist expertise in the pensions aspects of transactions relating to distressed employers.
Because of our unique ownership structure we can price both attractively and flexibility to meet the varying demands of dealmakers.
For more information please contact us.