“The team provide an excellent service with practical and commercial input that we have not found with anyone else.”
“PSGS offered the right support at very short notice, at reasonable cost, when we really needed it”
“Ian has added more value than we thought he would at the start… which shows it pays to go with someone who is doing the job of a professional trustee as their bread and butter.”
“Ever increasing regulation has placed a heavy burden on trustees both in terms of time and the risk of non-compliance. PSGS has the experience and the resources to help trustees manage these burdens.”
“Wish I'd had the opportunity to do the Trustee training course sooner! ”
“Clare Owen has been a really excellent scheme secretary”
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.