Pensions are an important element of housing association mergers and acquisitions

Bringing together two or more previously independent housing associations is no easy task. There are many issues to consider, and pensions should be an important item on your agenda.

How can First Actuarial help?

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.

Why choose First Actuarial?

We are experts on housing sector pensions. We understand the issues involved and the ways around them.

Our good relationships with SHPS and with many of the LGPS funds mean that we can pick up the phone and have an honest conversation with them on your behalf. This can save time and money and help your transaction proceed smoothly.

Get in touch

Get in touch with one of our housing sector specialists to discuss how we can help you.

First Actuarial are very approachable. They’re good at helping managers and Board members digest a very difficult area, and they’ve also been proactive in helping us shape an innovative solution.

- Paul Richmond, Group Director of Finance and Resources, Watford Community Housing

First Actuarial case studies

Royal Mail

The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.

“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”

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Cheam School

With substantial increases in Teachers’ Pension Scheme (TPS) contributions looming for independent schools, Cheam School looked to First Actuarial for specialist support.

“We had a very good experience working with First Actuarial. I felt that they were always on the end of the phone, available to help and respond to issues as they arose."

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Bolton Cares

Taking responsibility for care services previously provided by a local authority, Bolton Cares turned to First Actuarial for help in setting up a competitive and affordable DC pension scheme for its staff.

“They’ve been really helpful and professional throughout the project, and we’ll use them again if we need specialist advice.”

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See all our case studies
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