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Leading firms join forces to launch admitted bodies service

Three leading firms join forces to launch specialist admitted bodies pensions offering 
Atkin & Co, Pinsent Masons LLP and Jackal Advisory have joined forces to bring a specialist offering to market for the public sector, focusing specifically on meeting the needs of not for profit bodies and Charities that are admitted bodies to the Local Government Pension Scheme (LGPS).  The trio will offer a one-stop liability management service to help these organisations manage their legal, financial, accountancy, actuarial and administration issues.

John Hanratty, Head of Public Sector Pensions at Pinsent Masons commented: “There is currently much change and upheaval taking place within the public sector which is affecting participants in public sector pension schemes, which is no secret, yet it is an area that remains under-resourced and
under-supported. Third sector and not for profit bodies, in particular, have some unique issues that are not being met, such as the imposition by LGPS funds of high deficit recovery rates. Through work and research we have done we have gained valuable insight into the needs and requirements of
these employers and have come up with a solution designed specifically for this area. What we are proposing is effectively a ‘one-stop-shop’ where we help third sector and not for profit bodies, such as non-departmental public bodies and not-for-profit employers, 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.”

Marian Elliott, Director at Atkin & Co added: “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. All three organisations bring the key skills and expertise to enable a scheme to properly consider all of their alternatives in a smooth and strategic way.”

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We enjoy working with the team at Atkin Trustees. They are easy to get along with and their technical expertise, coupled with a pragmatic approach, allows us to advise our mutual clients in a manner beneficial to all. The team draws on this wealth of experience to ensure clients get a first class service, provided in an efficient manner. This added value is something other larger organisations would struggle to provide.

Gavin Paul, Pinsent Masons