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Tom Austin

Director, Restructuring

KPMG in the UK

Tom joined KPMG as a graduate and has spent the last 12 years in Restructuring, with the majority of his time spent assisting companies with defined benefit pension schemes. Tom’s clients range from small family owned business to multi-national list group’s, with pension schemes that range in size from assets of ~ £10 million to > £1 billion.

Tom is directly engaged by both corporates and pension scheme trustees to provide support on a wide variety of issues that impact on employer covenant. This includes:

  • Employer covenant grading and assessment of deficit contribution affordability as part of a scheme’s triennial valuation.
  • Assessing the impact of corporate activity on employer covenant. To the extent this is “materially detrimental”, helping parties agree what constitutes “appropriate mitigation”.
  • Helping employers that are financially stressed/distressed consider strategies that treat their pension scheme equitably whilst trying to ensure their ongoing survival.
  • Assisting schemes and employers where the pensions regulator is considering the use of their “moral hazard” powers.

Tom has a great deal of experience across a wide range of industries, with particular expertise in the manufacturing, packaging, defence, food retail, not-for-profit and oil & gas sectors.

Education and qualifications
  • BA Hons, Geography, Exeter University, London

  • CPI - Insolvency Practitioners Association

  • Fellow Chartered Accountant (FCA) - Institute of Chartered Accountants in England and Wales (ICAEW)

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