Ernst & Young has
unveiled a new pensions advisory team.
The new arm will offer a range of corporate pensions advisory services aimed
at helping corporates maximise the opportunity or minimise the risk involved in
maintaining their occupational pension schemes.
The division will be headed up by Terry Simmons, who joined this month from
PricewaterhouseCoopers where he spearheaded the growth of its regional UK
Simmons said: ‘We are very committed to this important area of business
advice. In business, the balance sheet can be badly hit if pension scheme
liabilities are not rigorously investigated.
‘Pensions can also be a deal breaker in M&A. Add to this the climate of
falling investment returns and increased longevity and you can see that costs of
running such schemes are rising. There are advantages in speed and
confidentiality if the advice comes directly from one source.’
He added: ‘This is an exciting time to be launching. Pensions are headline
news and a big issue for UK businesses. By launching the team, we are responding
to increasing client demand for comprehensive advice on defined benefit
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