Managing your pension scheme deficit in
a perfect storm
Mattioli Woods plc in conjunction with Barber Harrison Platt held a seminar at the beginning of June to explore how trustees and companies might best manage a scheme deficit on an ongoing basis and with a view to giving the shareholders an exit from the company in due course. Other speakers included an actuary and a specialist pensions lawyer.
Below is a copy of the invitation letter and a link to the seminar programme. If you would like a copy of the slides, please contact Catherine Billington on 0116 2408700 or via email at catherine.billington@mattioli-woods.com.
Invitation Letter
As you will no doubt be aware, the plight of Defined Benefit pension schemes has been making the headlines for some time and the current economic turmoil has only served to worsen a dire set of circumstances already facing them.
It could be said that they face a 'perfect storm' at present. On one hand, scheme deficits are increasing due to falling asset values, lower investment returns and increasing liabilities driven by falling discount rates and increased longevity of members. At the same time, sponsoring companies are generally facing trading difficulties leading to lower profitability and less cash availability to fund the scheme.
As a further consequence, the plans of shareholders to exit the company have probably had to be put on ice for a few years but they will still want to realise the fruit of their efforts in due course and relatively small steps now may improve the position significantly when the time comes.
In these extremely difficult times it is important that scheme trustees and their sponsoring companies work together to find solutions which balance the interest of the members and the company shareholders.
To assist in this process, we are hosting a series of seminars in conjunction with Mattioli Woods, Pensions Consultants, which will explore how trustees and companies might best manage a scheme deficit on an ongoing basis and with a view to giving the shareholders an exit from the company in due course. Other speakers will include an actuary and a specialist pensions lawyer.
The seminar programme is enclosed (see link below) and we look forward to seeing you at one of the events.
Seminar programme and speaker biographies