Atkin and Co, Pinsent Masons and Jackal Advisory have joined forces to launch a pensions offering for the public sector, focused on meeting the needs of not-for-profit bodies and charities that are part of the Local Government Pension Scheme (LGPS).
The three pensions and consultancy firms will offer liability management services to help these organisations manage their actuarial, administrative and financial issues.
Marian Elliott, director at Atkin and Co, said: “Our primary goal will be to secure the outcome that best meets the needs of these employers, whether that is to stay in the LGPS or to leave the LGPS and seek an alternative arrangement.”
John Hanratty, head of public sector pensions at Pinsent Masons, added: “There is currently much change and upheaval taking place within the public sector that is affecting members of public sector pension schemes, which is no secret, yet it is an area that remains under-resourced and under-supported.
“What we are proposing is effectively a one-stop shop where we help third sector and not-for-profit bodies establish what their pension offering should be. For example, should they be in the LGPS? What are the alternatives? Have they reviewed their covenant with the fund lately? Could they manage their exit liabilities? These are all critical issues that are not being properly considered.”
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