“Very professional and engaged service.”
“They have helped us save much more and created a cohesive plan to de-risk whilst building an integrated pension team.”
“Clare Owen has been a really excellent scheme secretary”
“The team provide an excellent service with practical and commercial input that we have not found with anyone else.”
“These days, Boards need real expertise on tap (with excellent back-up) to cope with a constantly evolving and more regulated environment. PSGS is geared to delivering that.”
“It’s a pleasure working with key members of the PSGS team: their experience and leadership means that they know how to get the job done, working in partnership with fellow trustees, employers and advisers to achieve the best result for members.”
There are many situations where you may consider using the Pensions Regulator’s clearance process - especially those that may be of material detriment to your defined benefit (DB) pension scheme and its members. These include:
Typically, when a tPR clearance application is being made, pension trustees and the scheme sponsor are likely to be in a position of disagreement and potential conflict. PSGS's experience as professional independent trustees, and trained mediators, together with our close working relationship with the Pensions Regulator, mean we can steer you through the clearance process and come to agreement quickly and efficiently, no matter how complex your situation is.
Our client: a leading publishing house
What we did:
We organised an independent covenant review. This stated the pension schemes’ sponsor would be less financially robust after the de-merger, but the covenant would not be significantly reduced because the group’s legal obligation to the schemes was uncertain.
Despite this, the group wanted to apply for clearance from the Pensions Regulator. In return for the pension trustees’ support of their application, as an independent trustee we were able to negotiate substantial payments into the pension schemes and some additional financial support from the wider group for the scheme sponsor.
If you would like to find out more about how we can help you with your Pensions Regulator clearance application, please contact us.