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Family Businesses with Legacy Pension Schemes

September 2016

Adam Carruthers writes for Family Business United about what family businesses with Defined Benefit pension schemes can learn from BHS.

 

Events during 2016 highlight the significant impact that pension deficits relating to 'defined benefit' pensions schemes (also known as 'DB' or 'final salary' schemes) can have on businesses, employees, scheme members and pensioners. 

The high-profile collapse of BHS, leaving its DB pension schemes with a combined estimated deficit of £571 million, raises difficult questions about responsibilities for funding schemes and protecting members.  Meanwhile, a deal to rescue the operations of Tata Steel UK appears to hinge on proposals to reduce benefits under the British Steel Pension Scheme.

What can family businesses learn from these cases? Read more in Adam Carruthers' article for Family Business United here

 

16 Jan 2019

The OTS's first report on the review of Inheritance Tax

The OTS's first report focuses on addressing the "practical complexities" of the regime.

10 Jan 2019

Thinking of installing renewable energy? What you need to know about the Smart Export Guarantee

The Government is consulting on the way small generators are paid for electricity they export to the grid –what is proposed, and what does this mean?

09 Jan 2019

What is cohousing?

Continuing our series examining key community-led housing concepts, we look at cohousing as an alternative to more conventional projects.