We help corporate clients to achieve long term stability and success when managing their pension liabilities, reorganisation, accounts etc. This page outlines a few examples of how we implement changes.
Appointed to advise the parent company of a UK subsidiary to advise on the long term down sizing of the pension liabilities and eventual buy out of those benefits, we worked closely with the Trustees, their advisers, the UK company management and that of the parent. Over a period of several years, members were given
various benefit options and more careful controls were put on augmentations and discretionary increases. Investment strategies were introduced to reduce risk, bank gains and undertake partial buy-outs/ buy-ins. The scheme was finally wound up with members, Trustees, UK subsidiary and parent company continuing in business and employment, all satisfied with the treatment of accrued benefits.
The group was merging four subsidiary companies into a competitive national organisation with the merger of three defined benefit pension schemes and a future service benefit programme. We advised the group on scheme merger issues, member communication and funding and investment strategies for the combined scheme, negotiating with the individual scheme trustees and combined scheme trustees.
A group company asked us to review the approach being taken to assessing pension scheme costs for group accounts. We identified inconsistencies in the approach taken by the various subsidiary companies. We implemented a new process which produced lower liabilities, quicker results and a significant saving in fees.
How often does a company pump money into the pension scheme to address a deficit only to be told at the next actuarial valuation that the deficit has grown? We are instructed by many sponsors to monitor both the scheme performance and the management of the liabilities to control costs and make progress towards the eventual winding up of the scheme.
We usually work on a time cost basis, but we’re happy to agree maximum fees in advance for major projects.
As our overheads are lower than those of the larger firms, we are able to maintain lower charge out rates. We tend to find that our rates are around 2/3rds of the larger consultancies.
H&C offer a comprehensive range of services that are designed to meet the needs of schemes, trustees and employers alike.
Our pragmatic, proactive approach to solving problems and hands on attitude, we believe, is what sets us apart from others in our field.
…we have completed the transfer to FAS and it was your idea. I can’t tell you how grateful I am that
A) you came up with the idea and
B) you helped us through the process.
It is such a relief for me to know that we have done our very best for our pensioners.
Director & Trustee,