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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10 July 2020

In the news this week, the Chancellor’s summer statement is pensions-lite, a call for input is launched on data standards for pensions dashboards, a company looks to bring its DB scheme closure forward by four years and another large longevity swap is completed.

Getting buyout ready

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.

Pensions Arena April 2020

Given the very company/scheme-specific impact of the Covid-19 pandemic, in this quarter’s Arena we simply show all the usual financial and investment analysis for what was a very turbulent first three months of 2020, plus a summary of key pension developments and Company pensions news over the quarter.

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.