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Pensions on Mergers, Acquisitions & Disposals

Acting for employers (some of which are publicly listed) and trustees across a wide range of business sectors, we have extensive experience in advising on all pensions matters related to mergers, acquisitions and disposals. In this, we work closely with the employment and corporate teams and with the sector focussed charities and education group and the agriculture, food and rural businesses group.

Sometimes transactions involve an international element, such as an overseas parent company. We often advise clients with little prior knowledge of the UK pension law and regulation.

Our work includes:

  • carrying out due diligence to identify potential pension issues in connection with corporate events
  • advising employers that acquire employees as a result of a transfer of an undertaking of their continuing pension obligations under the legislation and, in relation to public sector employees, under the Government’s ‘Fair Deal’ policy
  • advising on the Pension Regulator’s ‘moral hazard’ powers and its voluntary clearance procedure that employers can use
  • advising on the Pension Regulator’s ‘notifiable events’ regime and making notifications
  • assessing an employer’s legal obligations to a scheme
  • advising on, negotiating and implementing appropriate mitigation where a transaction would otherwise be materially detrimental on the ability of a scheme to meet its liabilities
  • advising employers and trustees on the employer debt regime, how such debts can be dealt with and drafting apportionment and withdrawal arrangements
  • advising on, drafting and negotiating pensions warranties and indemnities
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