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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