There are 250 large family businesses in the UK with final salary schemes. Between them they employ 750,000 people (and support countless other jobs in their supply chains). Many of them operate in critical sectors of the economy including food production, distribution and care. Many of them have been decimated by COVID-19. As things stand,…
Working with family businesses across the UK we recognise that they are the bedrock of communities and take a long term view that is built on the long term stewardship of people and resources. Strong values are at their core and they demonstrate a strong commitment to their staff with a history of acting as…
Proposals to reduce the number of poorly governed pension schemes have been outlined in a consultation recently launched by The Pensions Regulator (TPR). The future of trusteeship and governance consultation outlines the problem of badly run pension schemes and considers how the trustee model can be made more effective. In particular it poses questions to…
Family businesses with defined benefit pension schemes should be aware that the Pensions Regulator has issued their 2019 Annual Funding Statement. The statement sets out what the Regulator expects from trustees and employers of schemes with valuation dates between September 2018 and September 2019. Regardless of whether your family business pension scheme’s valuation is due…
Western Pension Solutions (‘WPS’), the specialist pensions consultancy that provides strategic and practical advice to family businesses, has added their insight to support the Institute for Family Business (‘IFB’) as part of the collaborative response to the government consultation on the consolidation of defined benefit pension schemes. WPS is delighted to have been able to…
Western Pension Solutions (“WPS”) has responded to the Department for Business, Energy & Industrial Strategy’s (BEIS) update on its consultation on insolvency and corporate governance. Mike Kennedy, Director and Regional Head of Scotland for WPS commented, “WPS is delighted that the Government is calling for companies to be more transparent about how surplus revenue is allocated…
