Help an employer to reduce their contributions by granting security over assets to a scheme
The sponsoring employer wanted to reduce their scheme contributions due to changes in the Government funding that they received.
We helped identify that a strong asset base might provide some flexibility. An actuarial valuation supported this and led to the scheme receiving security over a number of properties. This enabled the trustees to accept a longer recovery plan with lower initial contributions. There was also a beneficial side-effect of the charge being made PPF (Pensions Protection Fund)-compliant which reduced the employer’s Levy.