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Bulk tranfers
The challenge for employers and trustees
Bulk transfers often take place as a result of corporate transactions and scheme mergers. There are many issues that need to be considered by employers and trustees before a bulk transfer takes place, including:
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the need for members' consent
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the trustees' duties and whether they can agree to the transfer
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how much should be transferred from the transferring scheme?
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what benefits will be provided by the receiving scheme?
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communication with members and the various statutory requirements
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how to deal with contracted-out benefits.
How we can help
Our pensions team has experience advising employers and trustees on the legal issues associated with making and receiving a bulk transfer. Whether its negotiating the terms of the transfer, establishing a new scheme to receive the transfer payment or communicating with members, our team can assist with every step of what can be a complex process.
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