Skip to Content

Risk Reduction

Risk Reduction

About

We work with employers and trustees to explore and implement options to restructure pension schemes and reduce the risks posed by, for example, pension deficits in defined benefit schemes through liability management exercises and other one-off projects. 

These include:

  • closing schemes to accrual and/or new members
  • capping pension increases or pensionable salary
  • changing benefit design (such as reducing the accrual rate) for some or all members
  • changing actuarial factors and/or the measure of price inflation used in calculating or increasing benefits
  • advising on the employer debt regime and apportionment of liabilities on the exit of an employer
  • advising on incentive exercises such as the option to take an enhanced transfer value or to give up non-statutory pension increases and compliance with the Incentive Exercises Monitoring Board’s code of good practice for such exercises
  • drafting and advising on contingent assets (such as parent company guarantees and charges over assets) for funding purposes and to reduce the Pension Protection Fund levy

In connection with such exercises and scheme amendments, we can help identify any restrictions which may exist in the scheme documents, members’ contractual rights and any statutory restrictions and requirements for consultation.

 

Key Contacts

Christopher Nuttall - Legal Director

Christopher Nuttall

Legal Director

+44 (0)1604 463134

+ Read More

Meet the team

Latest testimonials

"Chris Nuttall delivers comprehensive advice in a timely manner and strives to deliver a meaningful and helpful service."
Client Quote to Legal 500

Latest testimonials

“Hewitsons is an impressive practice – client-focused, efficient and effective. The firm punches well above its weight.”
Client Testimonial c/o Legal 500

“Great communication, reasonable fees, good value for the money.”
Client Testimonial c/o Legal 500

“The firm provides excellent partner expertise at highly competitive rates.”
Client Testimonial c/o Legal 500

"They are an efficient, knowledgeable team, which is able to advise and carry out work on a variety of topics."
Client Testimonial c/o Legal 500

"Hewitsons provided us with timely legal support adhering to the scope of the service agreed."
Client Testimonial c/o Legal 500

Latest testimonials

“I particularly liked the approach of Hewitsons in that we worked with the same lawyer from initial discussions and quotation through to completion of the sale. This meant there was good continuity throughout the project.”
Client Testimonial c/o Legal 500

"In my experience Hewitsons is top of its class. It has experts in every field."
Client Testimonial c/o Legal 500

"Hewitsons is outstanding. It is professional, knowledgeable and efficient."
Client Testimonial c/o Legal 500

Latest testimonials

“The firm provides excellent partner expertise at highly competitive rates.”
Client Testimonial c/o Legal 500

"They are an efficient, knowledgeable team, which is able to advise and carry out work on a variety of topics."
Client Testimonial c/o Legal 500

"Hewitsons provided us with timely legal support adhering to the scope of the service agreed."
Client Testimonial c/o Legal 500

Back to top