The pensions industry in the UK has seen significant disruption over the last decade with fundamental changes to defined benefit scheme funding, the introduction of auto enrolment, the pension freedoms and frequent changes in the tax rules around pension saving.
At HRUX we have extensive experience in corporate, trustee and individual pensions advice in the UK covering all of these areas.
Some of the key areas we are currently working in are as follows:
- Helping senior employees understand their position against the Annual Allowance and the Lifetime Allowance and what options exist to help mitigate the impact of these.
- Financial education and retirement support provision to employees. With the introduction of the pension freedoms in 2015, individuals have much more flexibility in how they draw their pension benefits. Whilst this flexibility is a positive move it brings with it the risk that individuals will make misguided irrevocable decisions.
- Good governance of pension schemes. The efficient running and good governance of pension schemes is vital for achieving best member outcomes.
- Funding of defined benefit pension schemes in the current difficult climate of low gilt yields, the Pensions Regulator’s stance and media scrutiny of DB schemes.
HRUX would welcome the opportunity to meet with you to discuss the above or any concerns you have around pensions.