The first steps are to:
- Examine the pension benefits of existing staff
- Decide whether to align benefits across the group
- Evaluate the impact of each scenario, along with cost and risk assessments
- Consider the impact of any decisions on industrial relations
- Understand the requirements of TUPE and auto-enrolment.
Secondly, a thorough due diligence exercise will be vital to:
- Structure the reorganisation, minimising potential termination debts that you may otherwise incur at some point
- Highlight scenarios which may inadvertently trigger a large termination debt
- Understand the terms of admission to the Local Government Pension Scheme (LGPS)
- Comply with requirements for transferring staff between employers.
We can undertake due diligence to alert you to the possible consequences of the proposed arrangements in advance, so the newly-merged company has no nasty surprises lurking around the corner.
