Chris Parlour: Corporate client options for DB scheme consolidation

Advising business owners

clock • 4 min read

Chris Parlour explores smaller DB pension schemes and the associated headaches faced by business owner clients. Here he outlines everything advisers need to know about consolidating bijou final salary schemes

Running a smaller defined benefit (DB) pension scheme can be expensive. Moreover, cost pressures often limit the help and support members receive. That's why the Department for Work and Pensions (DWP) introduced measures to support the consolidation of DB pension schemes, giving the green light to superfunds and other innovations. There are significant diseconomies of scale involved in running a DB scheme. Many tasks that need to be performed, like undertaking triennial actuarial valuations, or preparing annual accounts, give rise to a significant amount of ‘fixed cost'. This affects ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pensions campaigner and former WPC chair Frank Field dies aged 81

Pensions campaigner and former WPC chair Frank Field dies aged 81

Field was a former Work and Pensions Committee chair and a welfare champion

Professional Pensions
clock 24 April 2024 • 5 min read
Crucial advice issue: Death benefits detail advisers need to know

Crucial advice issue: Death benefits detail advisers need to know

Important differences from previous regime

Andrew Tully
clock 05 April 2024 • 4 min read
British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read