Consultancy Services

IAS19 report as at June 2011
Contact
David Bor FIA David Bor FIA /uploads/contacts/contact_16.png St James House 7 Charlotte Street Manchester M1 4DZ 0161 242 5329 0798 156 7168 0161 931 4557 david_bor@jltpcs.com David Bor is Head of IAS19 and PPF Services. He has over 20 years experience in the actuarial profession. David joined Pension Capital Strategies in 2007 having previously worked at KPMG, Refuge, Bain Clarkson, Clay & Partners and Royal Life. His varied career has included advising trustees and companies on their pension arrangements together with several trustee appointments. David is a Fellow of the Institute of Actuaries and also a member of the Association of Consulting Actuaries Audit Committee.

Quarterly Monitoring

Anyone involved in the financial aspects of running a business be it FD, Treasurer or even Chief Executive will all receive monthly reports and updates on a wide variety of financial issues affecting the business - except one, the pension scheme.

As pension scheme liabilities now sit on the balance sheet, like any other debt, they should be monitored, reported and planned for in the same way as any other capital structure issue.

This is not simply a matter of an actuary providing the company with the usual mechanical liability numbers. You require broadly based advice as to what to do about your pension issues; advice that is presented in the context of the company as a whole. 

At PCS we believe that advice and practical implementation of strategies to deal with pensions obligations, in the context of the Company's financial and strategic plans as a whole, is essential.

Here are some examples of where we can add real value to your pension scheme planning:

•   Understanding the appropriateness, structure and process of raising debt and equity (including equity underwriting) to fund deficits or exceptional contributions;
• Using alternative funding assets such as parental guarantees, letters of credit, credit risk insurance or contingent asset security;
• Advice based on troubled borrower expertise, including sourcing of funds, where the pension liability necessitates balance sheet restructure;
• Review of the current tax position;
• Advise on the Impact on D&B failure score and PPF levies;
• Accounting for Pensions : FRS17 / IAS19 / FAS