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Category: Publications

Home Archive by Category "Publications"

Sydney Packett & Sons DB pension scheme completes £5m buyout with Aviva

10th March 2021Helen Miller

The Sydney Packett & Sons defined benefit (DB) pension scheme has completed a £5m buyout with Aviva, securing the benefits of all eight members of the scheme. Ahead of the transaction, the scheme received strategic advice from Western Pension Solutions, which also supported the scheme in conducting a member option exercise in order to make…

Family Firms Remain Backbone Of The UK Economy

28th September 2020Paul AndrewsNo comments

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…

The State of the Nation

15th June 2019Paul AndrewsNo comments

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…

West Midlands Family Business Pension Schemes

10th April 2019Paul AndrewsNo comments

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…

North West Family Business Pension Schemes

13th February 2019Paul AndrewsNo comments

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…

Scottish Family Business Pension Schemes

15th January 2019Paul AndrewsNo comments

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…

Why other family businesses should look at a pension buyout as an option for their family company too

27th June 2018Julian LyonsNo comments

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…

10 steps to achieving a buy-out

31st May 2018admingav

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…

Scheme buyout – the family experience

27th April 2018admingav

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…

due diligence is the key to a successful buyout

29th September 2016admingavDue diligence

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…

Recent Posts

  • Sydney Packett & Sons DB pension scheme completes £5m buyout with Aviva
  • Family Firms Remain Backbone Of The UK Economy
  • Adding Our Voice To The Latest Pension Consultation
  • Beacon Of Hope For Firms With Legacy Pension Challenges
  • Family Business Of The Year 2020

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