1. A HEALTH CHECK FOR
YOUR PENSION SCHEME
ELIZABETH GANE
Director
+44 (0)121 393 0252
elizabeth.gane@gowlingwlg.com
ADAM BUSHBY
Partner
+44 (0)20 7759 6515
adam.bushby@gowlingwlg.com

2. A health check for your pension scheme
iii
Defined benefit pension schemes can be a headache. When problems arise, they
can be complicated and costly to rectify. Prevention is better than cure for pension
schemes as well as their members.
We all know it’s good to get a health check and
it’s the same for your DB pension scheme.
Our fixed fee health check can help you:
• remedy governance issues, giving you peace of mind that your
scheme is compliant and running properly and efficiently;
• identify possible liability and risk management options: a key
specialism of our pensions team, we can suggest solutions to
reduce risk and improve your scheme’s financial health;
• save money and future expense;
• ensure you are ready to transfer the scheme’s liabilities to an
insurer; and
• reduce the risk that the Pensions Regulator (TPR) will
investigate your scheme: TPR is taking an increasingly
proactive stance and has extensive powers to investigate,
prosecute and seek to obtain additional funding, a cost you
may be unable to afford.
What is included?
The health check concentrates on key compliance and governance
risks that many pension schemes in the UK are exposed to. It
also considers possible liability management and risk reduction
measures.
As part of the health check of your pension scheme we will answer
the following questions:
Compliance risks
Governance risks
Liability Management & Risk Reduction
Experience tells us that there are a number of quite straightforward
steps that employers and trustees can take to reduce liabilities.
We have worked on a wide range of high profile and successful
risk reduction exercises. Risk reduction strategies seek to limit the
financial and legal risks inherent in defined benefit provision in the
UK. Our health check will outline options which you may not have
considered before.
A HEALTH CHECK FOR
YOUR PENSION SCHEME
Are your scheme documents up to date? Do they reflect the
benefits you believe are payable in the common problem areas
of: retirement ages, accrual rates and access?
Are you at risk of any
claims from members in
relation to these common
problem areas?
Who controls the key
powers – you, the trustees,
or both?
Are there any apparent
conflicts of interest between
the trustees and the
company?
Do the trustees meet
frequently enough?
Do the trustees have
appropriate professional
advisors?
Do the trustees and the
employer have separate
advisors?

3. A health check for your pension scheme
iv
How much will it cost?
Cost certainty is vital in business; it’s why we always offer a free
initial consultation.
Following that our full pension scheme health-check costs £3,000.
Rest assured this cost is fixed regardless of the amount of work it
takes to produce your health check report.
It’s easy to get started; you just need to send us three sets of
documents:
1. the latest trust deed and rules for your scheme
2. the latest scheme booklet for members
3. the latest actuarial valuation for the scheme
The diagnosis
Gowling WLG has one of the largest and most highly regarded
pensions law teams in the UK. Following the health check, you will
receive a clear and concise assessment of the legal position of your
pension scheme, giving you peace of mind that you have addressed
any key compliance and governance risks.
Prevention is always better than cure; call us today for your free
initial consultation.
The world of pension arrangements is full of challenges and
opportunities. To stay ahead, you need clear, unequivocal
and cost-effective advice, from experts who not only
understand but anticipate your needs.
With technical excellence as a given, Gowling WLG's
pensions experts provide commercial, jargon-free solutions.
The size and depth of experience of the team means we're
able to resource your matter efficiently and effectively,
with the ability to scale up or down in accordance with your
objectives and timelines.
Expect a comprehensive approach, with the ability to tackle
your project from every legal angle. Used to advising both
trustees and sponsoring employers, as well as insurance
companies, actuaries, consultants and industry bodies,
you'll get the whole picture from Gowling WLG.

4. GOWLING WLG �UK� LLP
T +44 �0�370 903 1000
gowlingwlg.com
Gowling WLG (UK) LLP is a member
of Gowling WLG, an international law
firm which consists of independent and
autonomous entities providing services
around the world. Our structure is explained
in more detail at www.gowlingwlg.com/legal