Retirement and pensions

Pensions strategy delivering corporate strategy

Over the past decade, costs of defined benefit (DB) employee retirement plans have mushroomed; people are living longer, investment market conditions are difficult, regulation is tightening and state pension provision is in decline. And in spite of the best efforts of sponsoring employers, deficits have remained on corporate balance sheets with significant consequences. Employer-provided pensions and retirement benefits are an essential part of the reward package in many countries. It is important for employers to be aware of, and to manage, the associated costs and risks, but they also have an important role in helping their employees to make sound decisions.

"Solutions to today’s pension challenges need a wide ranging understanding of business."

Raj Mody, Global Leader for Retirement & Pensions, PwC United Kingdom
  • Many companies are prioritising retirement provision
  • High unaffordable liabilities are top of mind
  • Companies are helping employees save
  • Pension advice should be holistic
  • Governance should be improved

Are you in control of your organisation's pensions costs? Or are you struggling with the governance and risk associated with the retirement benefits you’re providing to your people? And is your retirement plan design delivering in line with your wider people strategy?

Five key themes have emerged from our global retirement consulting practice speaking with leaders and decision-makers at global companies with pension commitments spanning more than 80 countries.

 

How we can help

Solutions to today’s pension challenges should have a wide ranging understanding of business. In addition to PwC's retirement, pensions and actuarial expertise, we bring together expertise in a wide range of areas including: tax, legal, accounting, structuring, insolvency and credit analysis.

PwC has over 2,500 retirement, pension and employee benefit specialists in 54 countries around the world, helping our clients to address and manage their retirement and pension issues:

Retirement and pensions strategy

We work with clients to understand key drivers and objectives for your retirement and pensions benefits. We combine this understanding with our industry, pensions and regulatory knowledge to help our clients shape a retirement and pensions strategy that fits in their overall business strategy.

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Plan design

We help clients design new pension plans to suit a variety of business needs. We bring a technology-driven approach to help understand your objective in designing a new pension arrange, calculate the possible impact of new benefit package and more closely align the new design with your existing HR and finance policies.

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Plan transformation

We understand the pensions can be a challenging issue. PwC’s wide range of approaches help create a sustainable solution to plan transformation including interactive impact analysis on different transformation designs.

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Deals

We have extensive experience in supporting clients across the entire transaction cycle, including M&A due diligence, pension scheme valuation and post-acquisition integration and implementation. We understand how pensions fit in the wider commercial and competitive context of the deal and aim to provide you with support and advice to enable you to take the right decisions and run quick, smooth processes that fit your needs.

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Financial reporting

We provide a range of audit services to clients as part of our corporate audit of pension schemes. Our pension actuaries offer services such as reviewing pension scheme assumptions and methodologies, benchmarking assumptions provided by the scheme actuary, reviewing accounting treatment of special events and review P&L and balance sheets. We can provide information for audit committee reporting purposes which forms part of our corporate audit of pensions deliverable.

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Investment consulting

We have experience in working with Boards, CEOs, executives and subject matter experts as well as service providers to solve complex problems across the investment value chain. We bring to clients investment management, superannuation and retirement and actuarial services.

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Embedding technology in how we work

PwC's approach centres on using technology to reduce compliance burdens for clients, enabling them to focus their time and energy on addressing the strategic issues facing their businesses, and have a suite of new technologies across our global practice, to help drive efficiencies and improve visualisations to simplify client interfaces.

 

Contact us

Raj Mody

Global Leader for Retirement & Pensions, PwC United Kingdom

Tel: +44 (0) 79 7496 9320

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