Advising on a company share buy-back

A PLC seeking to execute a share buy-back notified its plans to the scheme’s trustees. The scheme actuary recommended that the trustees insist on full clearance of the funding deficit in the scheme before commencement of any buy-back. TW provided advice, support and negotiation services for the PLC that resulted in a mutual understanding of the financial position of the company and the scheme. TW was also able to explain fully to the company the requirements of the Pensions Regulator following which, a funding plan acceptable to all parties was agreed and the buy-back went ahead.