UK - Managing employee benefits effectively can make all the difference to staff performance and retention, law firm TLT says.
The firm’s pensions law expert Sasha Butterworth urged companies that have merged to handle pension benefits issues with care.
She pointed out that the supermarket chain Safeway was a classic example.
“A large company of approximately 90,000 employees will be assimilated into another supermarket chain, be it Morrisons or any another successful bidder.
“Yet the benefits of the staff in the merging companies might differ substantially, which could add to concern at an already unsettling time.
“Efforts need to be made to ensure benefits are harmonised as far as possible.”
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.