Liability Management Exercises
Liability Management Exercises

Increasing pension liabilities and market volatility pose potentially large and unknown risks, both financial and reputational. How does your pension scheme manage these risks?

The lawyers at Hogan Lovells help employers manage uncertain liabilities through a variety of liability management exercises. For example, we guide clients on pension increase exchange (PIE) exercises, where members trade pension increases for extra pension. We also advise on enhanced transfer value (ETV) exercises, where members are incentivized to transfer out of their plan.

Trustees and employers call on us for a range of solutions. We find what works best for you and help you implement it.

Read more

Our capabilities at a glance

00
+

Judicial review wins

2

Ex-government policy advisors

00
+

Pieces of legislation changed

Hear from our clients and industry leaders

icon-double-code

The whole team is super smart. They are all really easy to work with and then know our business inside out. They come to us proactively with issues and are incredibly responsive.

Chambers & Partners, UK Guide, 2025

icon-double-code

An intellectually brilliant and commercially astute public law team. One of the very best in the city.

Chambers & Partners UK 2025

icon-double-code

Hogan Lovells has a high capability in solving complex issues that involve both legal and technical perspectives.

Chambers & Partners, Germany, 2025

icon-double-code

The lawyers are just experts. They are there when you need them and happy to entertain all my questions. They understand the wider context and the politics and sensitivities of it.

Chambers & Partners, UK 2025

Key contacts

Katie Banks
Partner

Katie Banks

Partner

London

Load More