Essential support for Insolvency Practitioners
If you are an Insolvency Practitioner, you will know that any final salary schemes will be dealt with via the Pension Protection Fund. However, companies will often operate trust-based Defined Contribution and group life schemes. The sponsoring employer may act as the trustee of these schemes, meaning the IP now has the responsibility for operating and winding-up these schemes
in accordance with the scheme rules and legislation.
We are experts at winding-up DC schemes and handling the trustee responsibilities
- Tracing lost members
- Providing members with their options on wind-up
- Collating responses and handling member/IFA queries
- Ensuring all benefits are secured outside of the scheme
- Formal notifications to TPR and HMRC
- Ensuring accounts are produced up to final wind-up
Trustees of a group life scheme are responsible for dealing with any outstanding death claims, or deaths that occur following insolvency where employees are retained.
We are highly experienced in dealing with all aspects of trust-based group life schemes.
- Researching the circumstances of the deceased
- Deciding on who benefits should be paid to
- Handling queries of the relatives of the deceased
- Ensuring the scheme is wound-up when cover is no longer required
To find out about our pension services, click here.