Working with your trustees

​This could be in situations such as:

  • reviewing or closing company pension schemes
  • controlling the cost of member options
  • controlling operational risk
 

 Overview

 
​We can help you:
  • understand your scheme’s investment strategy and the options available to your trustees - for example, reducing pension scheme funding volatility through investing in alternative assets or using investment products to safeguard against large drops in equity markets
  • prepare for negotiation with scheme trustees on the future funding of the current pension arrangements
  • effectively present the strength of your employer covenant to your scheme trustees, and negotiate with them on covenant-related issues
  • ensure your pension scheme works for your high earning individuals, with the latest developments in the annual and lifetime allowances handled correctly
  • present a business case to trustees and employees when scheme changes are required, which engages them in the process
  • consult with your scheme trustees when considering a liability reduction exercise to help de-risk your pension scheme

 

 Insights and views

 
    Pension Protection Levies: Proposals for 2018/19 to 2020/21
    18 May 2017
    On 23 March 2017, the Board of the Pension Protection Fund (PPF) consulted on proposed changes to the levy calculation from 2018/19 to 2020/21. The main proposals relate to the insolvency scoring with the aim of improving its predictability. This includes the use of credit ratings, industry-specific scorecards for financial institutions, a reallocation of sponsors to scorecards and a possible move away from the 12-month averaging of insolvency scores.
     
     
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    Is the Pensions Regulator getting tough on scheme funding?
    16 May 2017

    ​The Pensions Regulator (TPR) has issued its annual funding statement aimed at trustees and employers undertaking valuations with effective dates between 22 September 2016 and 21 September 2017 (2017 valuations). Whilst many of the themes in the statement are familiar from previous funding statements, TPR appears to be taking a stronger position on some issues than it has done previously.

    Read full news alert here

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    CMI 2016… confirmation of a new trend?
    10 May 2017

    The Continuous Mortality Investigation (CMI) released the 2016 version of their model for projecting future improvements in longevity, CMI 2016, in March 2017. This version of the model allows for actual deaths up to the end of 2016 and projects lower future improvements in longevity than the 2015 version of the model.

    Read full briefing note here

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    Has the cut in the money purchase annual allowance been washed away?
    2 May 2017

    As a result of Theresa May’s call for an early general election being approved by the House of Commons on 19 April 2017, Parliament will be dissolved at one minute past midnight on 3 May 2017. 

    Read full news alert here

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    Discounting disconnect and limited longevity?
    6 April 2017

    Does the current low level of gilt yields create a false funding burden for sponsoring employers? Has the pace of increases in life expectancy finally tailed off? We seek to help sponsoring employers understand the issues and look at alternative approaches for pension scheme funding.

    Read full bulletin here

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    Spring Budget 2017: no news is good news?
    8 March 2017

    As was the case for last year’s Autumn Statement, there were relatively few significant announcements affecting pensions in today’s Spring Budget. It remains to be seen whether there will be any fireworks at the forthcoming Autumn Budget.

    Read full alert here

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    No Need to Panic on DB Schemes?
    21 February 2017

    On 20 February 2017, the Department for Work and Pensions (DWP) published its Green Paper entitled ‘Security and Sustainability in Defined Benefit Pension Schemes’. As befits its status as a Green Paper, this is a paper that is long on questions and short on firm recommendations about the future of defined benefit (DB) pensions. The DWP’s aim is to ‘encourage an informed debate on what if anything Government may need to do’.

    Read full briefing note here

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    Visit the Industry Insights page for news and views on the latest industry developments
    Speak to us

    Speak direct to our specialists in this area
    Craig Wootton
    Principal
    Or call us on
    020 3327 5000