In the dynamic world of pensions, we provide strategic advice and implementation support to shape the future of retirement provision, as well as supporting our clients to solve challenges posed by their existing pension schemes.
The opportunities and challenges faced by sponsors of defined benefit (DB) and defined contribution (DC) schemes are ever changing with new government policies, legislation and market innovation. Many companies aim to balance the provision of attractive and adequate retirement benefits whilst managing the costs and risks associated with their pension schemes. WTW can help optimise this strategy.
Ranging from supporting your pension scheme journey in its scheme design, the funding and investment approach, implementing the DB endgame strategy, managing risks and governance requirements and to enhancing the member experience and outcomes, WTW can help your organisation successfully achieve all of your pension objectives.
Our range of services allows us to partner with companies on any pensions or savings related need:
Retirement provision
We have helped hundreds of organizations (including many of the FTSE 100) design and redesign their retirement programs. WTW are at the forefront in developing innovative pension scheme designs, which creates a platform for positive change in the evolving UK landscape. This work includes the first collective defined contribution (CDC) plan in the UK. We are a leading voice in the industry and continue to shape the future of retirement provision in the UK.
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Governance and financial management
We partner with pension scheme sponsors to effectively manage the ongoing cost and risk of their retirement benefit plans, helping to ensure everything runs smoothly to mitigate and navigate financial surprises. This includes ensuring funding agreements meet sponsors’ objectives and helping companies appropriately negotiate and challenge trustee proposals in a collaborative way. We go beyond standard actuarial valuation and reporting requirements to provide meaningful insights, identify relevant opportunities and mitigate future risks. We also have extensive and robust processes for key plan financial management requirements such as on pensions accounting and pension due diligence for M&A activity.
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Endgame strategy
We work with our clients to determine the right long-term strategy for their DB plans, including evaluating the risks and opportunities between run-on and insurance solutions. With many schemes in significant surplus, and the potential for easier and earlier access to surpluses, this is an increasingly important discussion for sponsors. Our breadth of expertise allows us to create innovative solutions to help organizations reach the right outcome for them. We are a market leader for pension scheme transactions and we have extensive experience of working with clients who are looking to purchase bulk annuities and longevity swaps. We also led on the first ever superfund transaction in 2023.
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For generations, WTW and our predecessor firms have played a pivotal role in shaping modern pensions. Today, retirement consulting remains a cornerstone of our business, reflecting our unwavering commitment to addressing the challenges our clients face. We consistently invest in our people, proprietary technology, and work closely with clients to maintain our leading position as a trusted adviser on retirement benefits.
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