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We focus on the delivery of high quality, best practice pensions liability management programmes aimed at employers and trustees who understand the risks associated with such exercises.

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Liability management exercises can be an effective tool to help pension scheme sponsors and trustees reduce the risk in their schemes as well as offering members more choice and flexibility. Possible liability management exercises include:

  • Pension Increase Exchange exercises involve offering members, either at retirement or to those who have already retired, an uplift to their starting (or current) pension in return for the surrender of future annual increases.
  • Enhanced Transfer Values involve incentivising deferred pension scheme members to transfer their benefits to another pension arrangement.
  • A Retirement Transfer Option involves actively engaging with members to help them understand the option they have to transfer to a Defined Contribution arrangement at retirement and the flexibility that provides.
  • Other options such as running bulk early retirement or trivial commutation exercises.

Companies and trustees may wish to consider just one of these options or a combination, and also incorporate them into a wider de-risking programme. Provided such options are communicated clearly and fairly, and members are supported so they can make informed decisions which suit their particular circumstances, the result can be a ‘win’ for all concerned.

We have a team of over 40 dedicated liability management experts, including a group of 10 specialist project managers with a track record of delivering to time and budget. We have a thorough understanding of the implications of UK pensions law, the industry Code of Good Practice and the Pensions Regulator’s statement on incentive exercises. We also have in-depth understanding of financial advisers and their advice models, as well as communication specialists with years of experience in explaining complex pension issues to individuals.

Most importantly, we are willing to work with you to design and implement the exercise which is right for the company, the trustees and the scheme’s membership.

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Liability Management PDF 1.2 MB

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