Network partner and family-owned business, Western Pension Solutions have launched a free helpline for family firms to respond to issues associated with the prevailing COVID19 pandemic. Family businesses can call the helpline to receive general advice and help with their business pension scheme matters and planning.
Ben Fowler, Managing Director of Western Pension Solutions explains, “This is an unprecedented and difficult time for family businesses. We understand that many owners and managers will have spent the last few days ensuring the safety of employees, as well as forecasting and scenario planning for the next few months.”
Ben added, “For some businesses with legacy defined benefit pension schemes thoughts will now be turning to how these important long-term liabilities can be supported in a time of short-term challenge. It is universally acknowledged that having a strong and healthy sponsor is the best way of protecting pension benefits, however, the current situation may create issues for even the most secure business. Finding the right balance of cash payments in the next few weeks and months could be critical for all the stakeholders”.
“We have a lot of experience in this area and recognise that this a complex balance at the best of times. We are therefore setting up a free helpline where any owner or manager can call to talk through their situation and help explore their options.”
Please call Western Pension Solutions on 0207 726 2718 for a free consultation.