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Clearance and anti-avoidance
The challenge for employers
Does your company or another within your group participate in a defined benefit pension scheme?
Is your company or another within your group considering: The sale of a business or group company? Debt refinancing? An internal reorganisation? A return of capital? Taking out a secured loan facility?
These are just some examples of the type of corporate activity which could have a materially detrimental effect on the pension scheme as a creditor of your group and in respect of which you may want to seek clearance. Clearance provides comfort that the Pensions Regulator will not issue a 'contribution notice' or 'financial support direction' on your company or another within your group.
How we can help
Our pensions team has advised employers and trustees on the Regulator's anti-avoidance powers and the need to seek clearance. We have also been involved in a number of successful clearance applications. A senior member of our team has also recently been on secondment with the Pensions Regulator. Therefore, we can provide commercial and practical advice on all aspects of the clearance procedure.
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