Pensions Advisory team provides advice to trustees

Case 1

A major listed international food group announced it was selling certain of its UK businesses for a cash consideration of circa £700m. Our Pensions Advisory team advised the trustees of the UK pension scheme on a scheme restructuring via a flexible apportionment arrangement, whereby the pension obligations of the businesses being sold were transferred to another group entity.

Case 2

BTG Advisory’s Pensions Advisory team worked with a trustee of a pension scheme supported by a high street retailer which had the benefit of a significant property portfolio in the background. 

The employer’s shareholders were keen to transfer a significant element of the property portfolio away from the employer covenant to release value via a substantial dividend distribution. We advised on the impact of the proposed property restructuring and anticipated dividend distribution and, after extensive negotiations, supported the trustee in securing a significant lump sum contribution to the scheme together with various future protections around the remaining property portfolio.