Managing pension issues is becoming increasingly complex for business owners, fund trustees and individuals saving for retirement.
Managing pension issues is becoming increasingly complex.
Most defined benefit pension schemes are on a knife-edge despite numerous alleviation measures announced by the Pensions Board and recent Government announcements around additional investment flexibility. The vast majority have been underwater for some time, and a radical restructuring is becoming increasingly pressing in order to put schemes on a sustainable long-term footing.
Defined contribution schemes are—due to the certainty of their costs—generally viewed as a much more manageable alternative. However, they are not without their shortcomings in terms of adequacy, choice of investment funds, and associated member education.
At the same time, the taxation of pension contributions and benefits for employers and employees is undergoing significant reform, leading to extra costs for employers and employees alike.
KPMG’s multidisciplinary Pensions Advisory Services team includes highly qualified and experienced actuaries, tax advisers, pension consultants, corporate finance professionals and qualified financial advisers who utilise local actuarial and consultancy experience to provide broad-based, commercial advice to a range of clients.
How KPMG can help
Our approach is to: