Pensions – Trustee Consulting

Climate change poses global, systemic risks that will affect every part of the economy. As key long-term investors and significant participants in the financial system, it is important that trustees and sponsors of pension schemes consider the implications of these risks for their pension arrangements and the part they can play in responding to the challenge.

The WTW Covenant Advisory team has a core background in complex corporate restructurings and the provision of advisory services to large creditors and corporates. Our clients range from small, single-employer schemes to complex multi-employer schemes with over £5 billion of liabilities. The team has a wide range of sector experience as well as expertise in dealing with both the Pensions Regulator and the Pension Protection Fund, where members have spent time on secondment.

OneDB delivers innovation to trustees through a “digital first” approach to managing defined benefit liabilities. OneDB online member experience delivers access to an entire suite of rich self-service functions.

WTW’s specialist defined contribution (DC) consulting team advises on all aspects of DC pensions and broader financial wellbeing. Our purpose is to improve financial outcomes for individuals by providing best in class advice and solutions to employers, fiduciaries and employees in respect of their workplace savings.

Defined contribution (DC) schemes are growing fast, yet members remain disengaged. It is vital for the right principles to be put in place at the start so that, as DC schemes grow, they can reflect the needs of their membership. GovernanceFit helps schemes to set the ground rules and plan for the future.

Guaranteed Minimum Pensions (GMPs) have been a long-standing complication of UK pensions. However, after a long and complex history, including in more recent years the abolition of contracting out and greater clarity on GMP equalisation, schemes are finally able to take the final steps in sorting out the GMP-related issues impacting member benefits.

Integrated risk management (IRM) is not a new concept, but the Pension Regulator’s IRM Guidance makes it something all trustees and sponsors of defined benefit pension schemes now need to take seriously. This can be an opportunity to streamline scheme management and improve member outcomes by better understanding and controlling your risks.

LifeSight^® is WTW’s defined contribution (DC) multi-employer pension trust for employers who would benefit from high-quality, lower risk, market-competitive pension provision without the governance burden.

We focus on the delivery of high quality, best practice exercises for companies and trustees who recognise the need to provide additional member options and/or to improve awareness and understanding of existing options.

Whether it be auditing member data, data improvement exercises or bulk calculation projects, we support pensions schemes to improve their data and meet trustee objectives.

We have a team of dedicated project specialists, who are also experienced pensions professionals. They have a unique blend of technical, actuarial, consulting and administration experience with industry recognised qualifications and extensive project management experience. They use their technical expertise to plan and deliver high value, complex projects effectively and efficiently.

Longevity Focus is WTW’s comprehensive range of longevity services which brings together existing and new capabilities.

WTW’s specialist Transactions team has extensive experience of working with clients who are looking to purchase bulk annuities and longevity swaps. It’s a busy market and we have been at the forefront, driving innovation for large and small transactions.

WTW’s Twilight service has a proven track record of leading clients successfully through the important last months of a scheme’s life, and delivering a safe and efficient route through territory that is unfamiliar to many trustees and scheme sponsors.

WTW’s retirement support service for corporate pension schemes is called Retire Able. Retire Able gives your members everything they need to confidently make an informed decision on how to fund life after work.

WTW is one of the leading providers of Scheme Actuary services to UK pension schemes, advising private sector schemes ranging in size from a few million pounds to many of the largest in the country.

Superfunds open up a route for schemes to continue without sponsor support in order to reach their end goal – be that buyout or self-sufficient run-off. Continuing can mean that member outcomes are materially better than they would otherwise have been. Over time, superfunds should also become efficient vehicles for small pension schemes looking for lower costs and access to optimised investment strategies

For more than 35 years, we have been delivering high-quality administration solutions through well-trained, professional, member-focused teams.

WTW provides a full range of consultant services and software products to trustees in respect of running UK defined contribution (DC) pension schemes. We have a long-established and dedicated team advising on all aspects of DC and additional voluntary contributions (AVCs) arrangements.

Whether your scheme is unsure about its insurance needs or looking to review the current arrangements, WTW can help. From arranging trustee indemnity insurance to evaluating the insurance cover your scheme offers to members, our specialists cover the full spectrum of protection consulting.

Keeping up with everything that’s happening in pensions can seem overwhelming. We provide training courses to help trustees and those with pensions responsibilities navigate this in small groups, supported by our friendly professionals.