Defined benefit (DB)
DB schemes are still an important part of UK pension arrangements, with more than 6,000 final salary, CARE and cash balance schemes across the UK.
The future and sustainability of DB schemes is rarely out of the spotlight, with the pensions issues at BHS and British Steel generating huge press coverage in 2017 and the government turning its attention to protecting DB schemes in its latest White Paper.
As deficits and the costs of running DB schemes continue to rise, employers and trustees are at risk of being overwhelmed by the raft of new legislation and regulation. This is where we come in. Our services are structured around six key areas, which we have identified as priorities for DB employers and trustees:
Our specialist lawyers focus solely on pensions. We have been advising trustees, employers and corporate investors on all aspects of their DB pension arrangements for over 50 years. And, we advise more of the UK’s top 100 pension funds than any other law firm. We advise on all sizes and structures of schemes, and across all industry sectors. We act for both open and closed schemes in the private and public sectors. Our involvement ranges from one-off projects and transactions to year round scheme management including financing, investment, disputes, tax and employment issues.