UK - Concerns over pension liabilities are causing some UK companies to pull out of merger deals, says PricewaterhouseCoopers.
The firm’s UK Deal Confidence survey found senior executives of major UK companies cited pension issues as one of the factors most influencing their merger decision-making in the next six months.
Marc Hommel, leader of PricewaterhouseCoopers HR transaction services practice, said: “Over two thirds of FTSE 350 businesses expect an increase in UK M activity over the next six months, but 56% of these organisations are worried about the impact of pensions.
“We are seeing companies pulling out of deals, citing uncertainty around pension issues. Yet there are solutions to the pension challenges, whether they are around pricing, using the clearance procedures available from the new Pensions Regulator, or working together with pension scheme trustees to arrive at mutually beneficial outcomes.”
Some 28% of senior executives cited pensions as a “high” or “major” concern.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.