Liability management

Operational support

Whatever solutions you are looking at, the secret to a cost-effective and successful liability management exercise is experienced project management, a well thought through offering and a strong member communication plan. bac can provide provide all of these elements and we have a proven track record with some of the largest UK employers.

We have recently designed and implemented a PIE at retirement option for a FTSE 100 client. The project involved agreeing the following with the trustees:

  • the PIE offer design
  • the member communication
  • a bespoke member online modeller we designed comparing a members’ benefits with and without the PIE offer.

We also supported the company to ensure the scheme’s administrators correctly implemented the new offer into the administration systems and procedures.

For another multi-national client we proposed to the trustees a complete overhaul of the communications that went to members as they approach retirement, ensuring details of a member’s transfer value was made available. Additionally, we have provided members with a online modeller to compare their scheme benefits with potential income levels if they take a transfer value.

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9 April 2020

In the news this week, the pensions world continues to be dominated by the impact of the Covid-19 pandemic, with the Regulator publishing more guidance for employers, the FCA delaying the implementation of its drawdown investment pathways and two household name companies deferring (or missing) their deficit recovery contributions.

Survey of company actions

Over the autumn of 2019, BAC conducted an extensive survey of the actions which companies are taking to manage their defined benefit (DB) and defined contribution (DC) pension arrangements.

Pensions Arena January 2020

2019 marked 50 years since Neil Armstrong walked on the moon and this was obviously on the Queen’s mind in her Christmas message as she talked about a bumpy year but one with small steps of progress as well. In terms of pensions, it also felt like a year of small steps and occasional bumps. In this quarter’s Arena, we take a positive look back at 2019, as well as looking forward to some expected pension developments over 2020.

Pensions Arena October 2019

Despite the very different circumstances facing individual companies, bac‘s autumn 2019 survey reveals a surprisingly consistent picture of the actions which companies are finding most attractive to manage their DB and DC pension arrangements.

DB Governance Case Studies

As DB liabilities have become legacy issues to be managed, governance has become the umbrella term for a broad range of risk management tools. In this publication, we look at the DB governance solutions we have helped our clients to implement.