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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

 

20 Aug 2019

Mutual Home Ownership Societies (MHOS): the next phase

We are very pleased to announce that we are working on proposals to develop low cost homes in York, with Yorspace and Lowfield Green Housing Co-op.

19 Aug 2019

Was an employer vicariously liable for workplace harassment via social media?

EAT provides useful guidance on a developing area of potential liability for employers.

14 Aug 2019

Changes to Companies House register help protect health and safety of individuals by restricting public access to personal information

This is helpful for persons who may be at risk of personal threat of harm because of their public profile or sensitive occupation.