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.
