Winding-up Schemes

Winding-up pension schemes, particularly where legal proceedings are involved, is a complex and time-consuming process. Historically, many scheme wind-ups have taken longer than necessary to complete and the Regulator is now implementing processes to encourage speedier resolution.

On our appointment to a scheme in wind-up, we will agree a project plan with the Scheme's professional advisors identifying:

• the issues which will need to be addressed;
• those responsible for dealing with action points;
• clear time frames for their completion.

This helps us to anticipate any potentially delaying factors and to pro-actively manage all aspects of the process smoothly.

We will also consider running schemes as closed for a period of time, where it is in the interests of its members to do so.

Closed Schemes

Additionally, we can run schemes closed to further accrual, where winding-up is discounted on costs grounds, and the scheme has become a "legacy" issue for the employer.

We have answered some Frequently Asked Questions raised by scheme members, employees and insolvency practitioners about winding up.