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Pension Board and Trustee Consulting

Trustees play a vital role in delivering high-quality defined benefit (DB), defined contribution (DC) and hybrid pension arrangements. But with ever-changing legislation, increasing cost pressures on plan sponsors and an ageing workforce, trusteeship is an increasingly difficult and complex role. 

With more than 360 scheme actuary appointments, covering £400bn of assets, we have extensive experience providing support and advice to the trustees of UK pension arrangements. 

We structure our services within the categories of “core” and “additional”, so you are clear on what you should do and what else you could add for the extra benefit of the scheme.

We provide a full range of consulting services to trustees in respect of UK DB and DC pension schemes. Here is a list of the services we offer our trustee clients. 

  • Advice on long-term funding strategy
  • Advice on triennial actuarial valuations, including funding and Pension Protection Fund (PPF) exercises
  • Provision of schedule of contributions and recovery plan following the formal valuation
  • Review of the suitability of all actuarial factors including transfer values and updating, where required
  • DC governance services
  • AVC provider monitoring
  • Installation of scheme on Asset Liability Suite
  • Preparation of annual actuarial reports providing an update of funding position
  • Attendance at meetings including training, advice on current pension issues, legislative changes and technical updates
  • General benefits consulting advice; for example, review of trustee report and accounts
  • Advice on PPF levies
  • Individual calculations required for one-off circumstances and/or requiring actuarial review

Additional services

  • Trustee secretariat services
  • Review of general trustee governance
  • Secondments and other short-term resourcing support
  • Data investigation and cleansing plans
  • Liability management and other member option exercises
  • Annuity transactions
  • Advice on longevity hedging
  • Advice on communication strategy and scheme deliverables
  • Project management of major exercises
  • Scheme wind-up service
  • Trustee training

Read the testimonial

Sony Music UK
The Trustees of the UK Pension Plan

"In the five years since we started using Asset Liability Suite to track our assets and liabilities, the Plan's funding position has significantly improved. Five years ago the Plan had a substantial deficit, now we are close to being fully funded. This improvement was due to many factors - one of the main ones was our decision to implement a dynamic asset strategy that linked directly to Asset Liability Suite. Setting up pre-agreed funding level trigger points that were tracked daily by Asset Liability Suite, enabled a nimble de-risking action as soon as the time was right, locking in on beneficial investment performance. Over time, although funding and asset strategies have changed, Asset Liability Suite continues to help us move closer to self-sufficiency and to improve the security for our members."

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Title File Type File Size
Trustee Pensions Consulting – Brochure PDF 1.5 MB
OneDB

OneDB brings together all of the expertise and disciplines from our leading actuarial, administration and investment teams into a single, integrated and coordinated solution for trustees.


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