Medium sized final salary pension scheme
Now that the Scheme Actuary cannot advise employers around funding and benefit design, plan sponsors are increasingly looking for independent advice.
We are committed to making sure the employer’s interests can be properly represented when finalising the funding plan. We’ve found that in almost all circumstances, the sponsor will end up with a better outcome if they take independent advice rather than relying solely on the information presented by the trustees.
Many plan sponsors are now looking to close the existing plan completely, and replace this with a pension option that has lower risks for the employer. Getting this process right – and devising an acceptable outcome for all parties – requires careful planning and robust advice.
We advocate full engagement in the early stage of the process – an approach that has proved successful for our clients. It means we can identify issues and make recommendations that reduce the risk of further problems emerging at the final stage of the negotiation.