Pensions advisory

Pension provision has become increasingly complex for sponsoring employers and trustees. Employers must balance responsibility with affordability, while trustees carry fiduciary duties to safeguard member benefits. Both sides are operating in an environment shaped by macro and geopolitical uncertainty, shifting regulation, rising ESG expectations and demographic change. In June, the UK Government introduced the Pension Schemes Bill, reshaping the operating environment. Its three policy pillars – asset pooling and consolidation, governance reform and higher allocation to UK productive assets (e.g., infrastructure, real estate and private equity) – reinforce the need for proportionate, independent advice. 

Advising Pension Trustees 

We support trustees with employer covenant assessments, risk management and funding strategy reviews that address investment volatility, portfolio construction, asset allocation, longevity and sustainability factors. We advise on restructuring and longer-term planning for schemes, including consolidation options, buy-ins, buy-outs and transfers to master trusts. We balance safeguarding member benefits while keeping funding demands realistic for the sponsoring employer. 
 
Advising the Sponsoring Employer 

Employers of defined benefit pension schemes need to consider how their pension obligations are integrated within the broader business strategy. This includes covenant health assessments, scenario-based funding strategies and support through mergers, acquisitions, refinancing and restructurings. We align pension provision with business sustainability, advising on scheme compromises, regulatory requirements and responses to distress, including CVAs and other restructuring tools. 
 
Expert Witness Work 

In disputes, regulatory investigations and transactions, we deliver expert independent covenant and funding evidence. Our impartial analysis supports trustees, sponsors and their advisers in resolving complex pensions matters and sustaining stakeholder confidence. 

Clear pensions advice enables trustees and employers to navigate rising complexity, protect member benefits and maintain business resilience.