Wildy logo
(020) 7242 5778

Wildy’s Book News

Book News cover photo

Vol 22 No 4 April/May 2017

Book of the Month

Cover of Whistleblowing: Law and Practice

Whistleblowing: Law and Practice

Price: £175.00

Pupillage & Student Offers

Special Discounts for Pupils, Newly Called & Students

Read More ...

Secondhand & Out of Print

Browse Secondhand Online


UK Public Holiday May 2017

Wildy's will be closed on Monday 29th May and will re-open on Tuesday 30th May.

Online book orders received during the time we are closed will be processed as soon as possible once we re-open on Tuesday.

As usual Credit Cards will not be charged until the order is processed and ready to despatch.

Any non-UK eBook orders placed after 5pm on the Friday 26th May will not be processed until Tuesday 30th May. UK eBook orders will be processed as normal.

Hide this message

Dealing with Pensions: The Impact of the 2004 Act on Mergers, Acquisitions and Insolvencies (eBook)

Image not available ebook lge

ISBN13: 9781904905387
ISBN: 1904905382
Published: June 2006
Publisher: Spiramus Press Ltd
Country of Publication: UK
Format: eBook (ePub)
Price: £79.17 + £15.83 VAT
The amount of VAT charged may change depending on your location of use.

Once the order is confirmed you will be e-mailed a link to download the eBook. This may take up to one working day.

All eBooks are supplied firm sale and cannot be returned. If you believe there is a fault with your eBook then contact us on ebooks@wildy.com and we will help in resolving the issue. This does not affect your statutory rights.

In stock.
Need help with ebook formats?

Also available as

The Pensions Act 2004 provides additional protection for members of defined benefit occupational pension schemes. In doing so it establishes both a pensions regulator and a pensions protection fund. The new rules impose funding obligations on employers which, it was thought by the legislators, employers would attempt to evade.

The legislation therefore includes anti-avoidance provisions, the knock-on effects of which will (1) radically change the way in which companies are bought, sold, restructured and wound-up (whether insolvent or solvent) and (2) create complex dilemmas for pension fund trustees and their advisers.

The anti-avoidance provisions of sections [35 and 39] are intended to protect pension members' benefits, whilst ensuring that it blocks abuses whereby pension liabilities can be offloaded onto the Pension Protection Fund. The provisions however may lead to unintended consequences for some businesses in the same group of companies, in situations where no abuse has taken place, for example:-

  • difficulties for private equity providers who thus far have viewed their investee companies as stand-alone entities which can be allowed to become insolvent if they fail. Following the legislation, where private equity provider invests in a company with a defined benefit which later falls into insolvency, clause 39 would require other companies invested in by the private equity provider paying towards the deficit that company’s scheme.
  • difficulties for overseas investors who find it hard to quantify the pension liabilities of UK businesses they acquire, especially if the liabilities of one infect the liabilities of otherwise unconnected companies, including those without any defined benefit pension arrangements.
  • difficulties for trustees who may be intimidated from assuming appointments as trustees, and/or increasing the cost of trusteeship
  • difficulties for employers wishing to establish or continue defined benefit pension schemes