Pensions legislation must be brought up to date, so it is clear tax-relievable contributions can be made in the form of cash or by the transfer of specified readily valued-listed assets, avoiding the need for an artificial debt mechanism.
As for other assets, it would be beneficial to have a solution for UK commercial property to avoid the physical sale and repurchase expenses, but otherwise perhaps a tradeoff can be accepted: hard to value assets cannot be used for in-specie contributions or settlement of cash contribution debt.
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Robert Graves is head of pensions technical services at Rowanmoor
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