Client feedback


​I enjoy working with PSIT and we have a very positive relationship. I was new to pensions and found them very helpful.
Bruce Allison,
RTUK
Very professional and engaged service.
Danny Nussbaum,
HR Director, Volvo
​Ian has added more value than we thought he would at the start… which shows it pays to go with someone who is doing the job of a professional trustee as their bread and butter.
Katherine Breading,
Tyser
​I would recommend them to anyone - I have dealt with a number of other independent trustee firms and would rate PSIT as the best. We are very happy with Mark and the service we get.
Julia Morton,
Camellia plc
PSIT offered the right support at very short notice, at reasonable cost, when we really needed it
Ian Edwards,
Chair of Trustee, Comet Pension Scheme
PSIT were overall more professional than others.
Paul Staniland,
Kier
image for Pensions Regulator clearance applications | clearance applications

Clearance applications

Whether you’re undergoing a corporate transaction or another event could affect your DB pension scheme, obtaining a Pensions Regulator clearance statement is rarely a straightforward process.


There are many situations where you may consider using the Pensions Regulator’s clearance process - especially those that may be of material detriment to your defined benefit (DB) pension scheme and its member. These include:

  • a change in the pension scheme sponsoring employer's financial status or weakening of the employer covenant - caused by events such as a return of capital, share buy backs, changes in the level of security for creditors, sale and leaseback transactions etc
  • pension scheme funding and pension deficit reduction negotiations
  • corporate transactions - including merger, acquisition and divestiture, as well as dealing with proposed compromise arrangements
  • group re-structure, merger of employers or replacement of a participating employer
  • pension scheme amendments - such as changes to the level of future benefit accrual
  • pension scheme mergers
  • introducing a new pensions investment strategy
  • phoenix events following sponsoring employer insolvency

Typically, when a Pensions Regulator clearance application is being made, pension trustees and the scheme sponsor are likely to be in a position of disagreement and potential conflict. PSIT's experience as professional independent trustees, and trained mediators, together with our close working relationship with the Pensions Regulator, mean we can steer you through the clearance process and come to agreement quickly and efficiently, no matter how complex your situation is.

If you would like to find out more about how we can help you with your Pensions Regulator clearance application, please contact us.

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