Pension Scheme Restructuring
Multi-disciplinary pension scheme expertise
Dalriada has been at the forefront of innovation in the pension trusteeship market since 2003. Our approach starts with listening. We gain an understanding of the situation and challenges faced by the employer and the scheme.
Our team has significant experience in finding solutions for companies in distressed situations with defined benefit pension schemes. Brian Spence and Richard Favier, who head up our restructuring team, are some of the most experienced experts in the pensions industry.
Brian is a director of Dalriada and has significant experience advising corporates in relation to managing their pension scheme liabilities. Recent experience includes advising on a number of “PPF plus” compromise deals, and advising on corporate restructuring exercises where the pension scheme is a significant barrier to getting a deal on the table.
Prior to joining Dalriada, Richard was the Head of Restructuring and Insolvency at the Pension Protection Fund (“the PPF”) and he therefore brings with him a wealth of experience in the area of working with distressed employers.
Richard is a member of INSOL, the International Insolvency Institute, and the American College of Bankruptcy and was made an OBE by the Queen for services to business in 2011.
We deliver a specialised service
Providing advice to employers in distressed situations is a very specialised area and, as each case is different, there is no ‘one size fits all’ solution. However, we have a tried and tested consulting process that we have found to be of significant value. This dovetails with any advice you may be receiving from other parties such as legal advisers and covenant assessors.
Committed – All Dalriada representatives are engaged on a fully employed basis in acting as professional pension scheme trustees. We are not, for example, lawyers or actuaries who are engaged part-time in the role of trustee.
Professional – Your Trustee Representative is professionally qualified and highly experienced, assisted by a number of support staff who are either professionally qualified themselves or studying for professional qualifications.
Experienced – We act as trustee to a wide variety of clients, encompassing different employer and scheme sizes, in a range of different situations.
Pragmatic – We work with fellow trustees, employers and other parties in a practical, collaborative and pro-active way to achieve fair solutions and outcomes that are in the best interest for all parties.
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