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PCS Alert - November 2010

November 2010 - Uniq transformation - what can we learn?

PCS Alert - January 2010

January 2010 - Exchanging pension increases

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Rob Dales FIA Rob Dales FIA

Funding and Funding Alternatives

With most DB schemes we see, the immediate need is to manage the short term issues with the trustees, the Pensions Regulator and scheme members. This should, and will, involve more than a simple recommendation for a series of cash payments. Always remember, the company own the deficit, the members own the surplus.

At JLT Employee Benefits, when considering funding level requirements, we take account of factors such as:

  • The cash flow demands for the business;
  • Balancing pension debt against bank debt;
  • Analysts views;
  • Tax relief implications;
  • Is it a private or public organisation;
  • Negotiations with members to limit accrued liabilities in excess of PPF support;
  • Immunisation of liabilities: alternative annuities/corporate restructure.

A key element of our approach to building the pension funding strategy into the overall corporate strategic planning process is not to waiti for the results of the scheme valuation to drive the next phase of scheme funding.

 

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