Business plans

Sometimes DC trustees or governance committees feel that they have objectives but they are implicit rather than explicit. bac’s role as DC governance adviser is to help the trustees articulate the high-level direction of travel, so that they are clear on what they want to achieve.

We have helped a number of clients to develop their business plan from scratch, or to revamp an existing but out-of-date plan. Our approach is to keep it simple, focus on the issues that really matter and define actions that are realistic to deliver.

We start with a thorough review of the risk register and confirmation of the key objectives for the client (trustee or governance committee). The client will then be a in a good place to develop their business plan. This should be kept at a fairly high level and used to identify actions for the short term (within one year), medium term (1 to 5 years) and long term (beyond 5 years).

20 November 2020

In the news this week, the second Lloyds judgement says that historic transfer payments need to reflect GMP equalisation, the Pension Schemes Bill moves back to the Lords, TPR gets tough on AE compliance, the FCA surveys DB transfer advisers again and another buy-in is completed.

Pensions Arena October 2020

This quarter’s Arena has a summary of our recent Pensions Perspective, “Endgame planning comes of age”, which looked at how long-term funding and investment plans are evolving and why companies are increasingly taking the lead in designing an endgame strategy. It also shows all the usual financial and investment analysis for the quarter ending 30 September 2020.

Endgame planning

Journey plans or glide paths may have been around for a long time but they’re at the heart of the Regulator’s proposed new funding code. In this Pensions Perspective, Leonard Bowman looks at how long-term funding and investment plans are evolving and explains why companies are increasingly taking the lead in designing an endgame strategy for their schemes.

Pensions Arena July 2020

This quarter’s Arena has a summary of our recent Pensions Perspective, “Emerging from lockdown”, which looked at how best to tackle the most common pension issues which companies are currently facing. It also shows all the usual financial and investment analysis for the quarter ending 30 June 2020.

Emerging from lockdown

As we keep hearing, we are living in unprecedented times. However, as we turn our attention to the future, what does the “new normal” mean for defined benefit pension schemes? In this Pensions Perspective, Leonard Bowman considers the most common pension issues that companies are facing and how best to ensure that the company approaches these on the front foot.