Andy Palmer

Andy Palmer


Business Restructuring | Pensions Covenant Advisory

Executive summary

I advise trustees and employers of final salary / defined benefit pension schemes in relation to all aspects of employer covenant risk. I am also a licensed insolvency practitioner and specialise in advising stakeholders in distress situations that involve pension schemes. I am former chair of the Employer Covenant Practitioners’ Association.

I work with:

Final salary pension schemes of all sizes, their sponsors and other stakeholders. My clients include SMEs and FTSE100 companies and are drawn from a wide range of sectors. I also work closely with the Pensions Regulator and the Pension Protection Fund.

I can do this because:

I am passionate about protecting the interests of pension schemes and optimising the outcome for members. I have nearly 30 years combined credit advisory, restructuring and pensions experience. I work with a great team of professionals and have access to BDO’s sector and situation experts.

An example I can share:

We recently advised the trustees of a pension scheme sponsored by an employer within a large FTSE250 group. The employer was being sold, however the acquirer did not want to have any liability for the scheme. We helped the trustees agree the basis on which the scheme could be apportioned to another group company. This provided long-term security for members’ benefits and enabled the transaction to proceed.

Outside of work:

Achieving a good work/life balance is really important to me. I am a keen cyclist and love the physical challenge of the local hills. I also enjoy playing guitar, listening to music, going to gigs and cooking for my family.