United Kingdom

Details

  • Service: Tax, Pensions
  • Type: Business and industry issue, Survey report
  • Date: 08/01/2013

KPMG Pensions issues update to asset-backed funding survey 

KPMG's third survey on asset-backed funding for pensions shows how the market has developed over the last three years, and looks at the reasons why we believe we will see material growth in 2013.
Front cover of the KPMG Asset-backed funding for Pensions survey
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Survey highlights

 

The rate of new companies putting asset-backed funding in place has remained at a similiar level to previous years, with a further seven companies making asset-backed contributions with a total value of over £500m.

Over the past year we have seen that:

 

  • The market continues to develop, with the first structures put in place by a charity, a regulated utility company, and a cooperative.
  • There is further innovation with the use of loan notes backed by assets, allowing these assets to be used as security even when they cannot be transferred into the asset-backed funding structure.
  • The complexity of these transactions, necessitating co-ordinated pensions, tax and accounting advice, means that they remain the preserve of the large accounting firms who have advised on all the structures implemented to date.

 

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