Client feedback


We chose PSGS because of the experience of the team and the feel of the relationship seemed the right fit.
Paul Staniland,
Chair of Governance Committee, Kier Group Pension Trustees
Extremely personable and professional.
Kelly White ,
Tussauds
In any major corporate transaction, time is of the essence. PSGS's pragmatic commercial approach helped us manage the pensions aspects of our group re-structure to ensure a positive outcome for all parties.
David Wilman,
CFO at Survitec Group
I learnt more than I expected to at the trustee training course. A good introduction to the trustee role.
Rob Hartley,
RSPCA
The work that has been done has been delivered beyond expectations.
Head of Trustee Services
Many organisations and people provide the services that clients need. In my opinion, the differentiator is in the way those services are provided and to that extent, Kathy embodies the qualities that I have come to value from PSITL. Kathy is organised but not fussy; diligent but not dogmatic; persistent without being pushy and compliant in a pragmatic way. Whilst she takes ownership and drives issues forward, Kathy is a team player who uses her and her colleagues experience to provide services to her trustee client whilst working closely with those like me representing the sponsoring employer. She works collaboratively with advisers but constructively challenges the scope of services, fees and service standards whenever necessary and makes sure that member needs are always taken into account. I enjoy working with her and trust that she will deliver what is required by the trustee and the members they represent in a manner satisfactory to the sponsoring employer.
Stuart Barker,
Internal Pensions Consultant, RSPCA

Hidden auto-enrolment issues: pension scheme funding

Topic:

Hot topic

Date published:

Tuesday, 26 February 2013

Although many employers realise that auto-enrolment is likely to increase their pension contribution costs, few seem to have recognised the potential hidden impact it could have on scheme funding.

The new duty to automatically enrol eligible jobholders into a workplace pension scheme will cause a squeeze on cashflow for many businesses. For employers with a defined benefit scheme, the issue will be magnified.

Experience shows that pension scheme funding negotiations can be difficult at the best of times. With the additional employer pension contributions that will arise for many businesses due to auto-enrolment only serving to constrain the funds available to employers, I think this could make discussions between a board of trustees and sponsoring employer even more challenging.

Dealing with this will take effort on both sides. Employers need to be clear about their pension strategy and how their defined benefit scheme fits within it, and pension scheme trustees need to fully understand this broader context and the potential impact it has on their scheme. My opinion is that many may find it invaluable to have an independent expert to help manage and guide funding negotiations to a successful conclusion.

Mark Homer - Scheme Manager

 

 

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