The new IFB Research Foundation The State of the Nation: The UK Family Business Sector 2019–20 report published today showcases the unwavering relevance and contribution of family firms. In the UK there are 5.1 million family businesses, making up 87.6 per cent of all businesses. They employ 14.2 million people, half of all employees in…
A new report by the Institute for Family Business Research Foundation launched in May reveals the sizeable contribution family firms continue to make to the UK economy. The report shows how the family business sector continues to grow, shining a light particularly on how small family firms are growing and investing for the future. Key…
Western Pension Solutions is a specialist pension consultancy that provides trusted advice to family-owned firms on how to solve manage their defined benefit pension schemes legacy and secure their employees’ retirement future. We are delighted to announce the launch of our inaugural research report into West Midlands Family Business Pension Schemes. This research report looks…
Western Pension Solutions is a specialist pension consultancy that provides trusted advice to family-owned firms on how to manage their defined benefit pension schemes legacy and secure their employees’ retirement future. We are delighted to announce the launch of our inaugural research report into North West family Business Pension Schemes. This research report looks at…
Western Pension Solutions is a specialist pension consultancy that provides trusted advice to family-owned firms on how to solve manage their defined benefit pension schemes legacy and secure their employees’ retirement future. We are delighted to announce the launch of our inaugural research report into Scottish family Business Pension Schemes. This research report looks at…
by David Dickson, Non-Executive Chairman at Western Pension Solutions We’ve discussed in our previous articles how the Vestey family successfully moved to an insurance buyout with the Western United Group Pension Scheme. The project not only removed the large scheme liability from the Vestey balance sheet, but members’ benefits were increased and all costs paid…
By Ben Fowler, Managing Director of Western Pension Solutions If you’re a family business with a legacy final salary scheme, a full buy-out of your scheme with an insurance company will almost always be the best outcome for all stakeholders. For your business, it removes an unpredictable non-core liability from the balance sheet and liberates…
Our Story Our company scheme had developed and grown considerably over time and, by 2012 our longstanding company pension scheme had liabilities of over £500m. As a key influence on the company balance sheet, the strategy for the scheme was an important part of our discussions for the future of the company – especially when…
Group head of reward Ben Fowler at family owned company Vestey Group explains how they took a multi-step approach to de-risking, culminating in a buyout Family-owned food and farming business Vestey Group de-risked its £500m 14,000 member Western United Group Pension Scheme over the course of three bulk annuity purchases, culminating in a buyout. Two…
