Services

Actuarial Services

Our actuaries and pensions consultants provide a full range of specialist pensions actuarial services to scheme trustees and sponsoring employers including formal Scheme Actuary appointments, preparing accounting disclosures, scheme funding strategy advice and funding negotiation support for employers.

Trustee Services

We provide the full range of services to pension scheme trustees to allow them to run their pension schemes in line with statutory requirements, trust deed provisions and industry best practice. This includes:

  • Scheme Actuary – acting as the Scheme Actuary and provision of all required actuarial services to pension scheme trustees
  • Trustee Advisory – providing wider actuarial advice to trustees as required, for example, advice on an employer’s liability management proposals
  • Deloitte Pensions Master Plan – acting as the Scheme Actuary and provision of all required actuarial, investment and administration services to pension scheme trustees through the Deloitte Pensions Master Plan
     

Corporate Advisory

Controlling pensions costs is a key issue for employers and we advise on the full range of options available from pensions strategy advice to and funding negotiation support for employers:

  • Pensions Strategy – supporting the corporate review its pensions strategy for both ongoing and legacy pensions schemes
  • Valuation advisory – reviewing trustees valuation proposals and supporting employers’ through funding negotiations
  • Deficit financing – specialist advice on funding deficits including asset backed contributions (e.g. Deloitte’s Pension Funding Partnerships)
     

Liability Management & Derisking

We take a holistic approach managing past service pensions liability. We work with employers and pension scheme trustees to help them understand the range of risks their pension schemes expose them to and the range of options available to mitigate the risks identified. This includes:

  • Pensions Derisking strategies – supporting the corporate review its long-term strategy to derisking pensions liability and its route to buying out the pension scheme
  • Liability management – supporting corporates consider the options to manage past service pensions liability, such as, running Pension Increase Exchange (PIE) exercises, offering Flexible Retirement Options (FROs) and running Enhanced Transfer Exercises (ETVs) exercises
  • Pension scheme buyouts – supporting corporates and trustees in buying out and then winding up pension schemes

Pensions Accounting

Most accounting standards, require the cost and liability of defined benefit pension and other long term employee benefits be recognised in the income statement and on the balance sheet. We assist corporates in preparing these aspects of their annual accounts. This includes:

  • Pensions accounting advice – advising on the potential accounting implications of pension scheme changes
  • Preparing disclosures – advising on the potential assumptions that could be adopted and preparing companies’ pensions disclosure notes under UK GAAP, IFRS, UK GAAP and other local reporting standards
  • Global consolidation – supporting multinational consolidate their pension accounting assumptions and figures across multiple jurisdictions into the their pensions disclosure notes

M&A and Transactions

Pensions are often a key issue on corporate transactions and we provide the full range of services required to help buyers and sellers understand the nature and scale of future pensions and benefits obligations and the options available to manage these including:

Buyer and seller due diligence – providing a detailed analysis of pensions and benefits obligations, highlighting key risks and costs

Post transaction implementation – supporting buyers and sellers after the transaction has been agreed to implement the transfer of pensions

For further information please contact the Actuarial Services Team

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