Whether plan change, high earners or encouraging employees to think about their level of savings, clear, concise and appropriate communications can add significant value to your benefit strategy. We can provide a full range of support, from member announcements through to online websites and modellers. Our mantra is keep it simple and to the point.
For a number of our DC clients we provide a suite of communication materials that can be used as part of a one, two or three year communication plan. Our materials include:
- member newsletters
- targeted information on a specific topic, for example investment choices or options at retirement
- workshops to enable employees to discuss their questions face-to-face.
We start by discussing with the client what their objectives are and then we agree the best communication plan to meet those objectives. From there we develop the appropriate materials and a timetable for issuing.
In the case of plan change, such as closure to future DB accrual, we have extensive experience of supporting sponsors as they explain to trustees and employees the reasons and implications of ceasing accrual. Effective strategies usually include a combination of written, verbal and online communication tools.
In the news this week, the CMI asks for industry views on how to allow for 2020’s mortality experience, the DWP launches a small pots working group, the autumn Budget is abandoned but the Chancellor announces new measures to help businesses, the Barclays scheme subscribes to a Barclays bond and there is another repeat buy-in.
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.
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.
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.
Covid-19 has created many challenges for DB schemes but, for those ready to transact in 2020, it may have created even more favourable market conditions for a buyout. The problem is that most schemes are not there yet. In this Briefing we look at what being “deal ready” actually means and what work it will involve.