Scheme Closure Management
Pension schemes closing to new members, or to new benefit accrual have become all too common.
Many closed schemes expect to run off over a long period of time and need a cost-effective advisory service during this period that will minimise management expenses.
We understand the particular needs of trustees of closed schemes, and provide specialist advice that draws upon our relevant experience.
Closed schemes need to pay particular attention to investment strategy, and ensure that the future levels of investment risk are appropriate to the circumstances of the scheme and the employer. Derisking strategies and the use of liability driven investment are very relevant issues.
We can also assist clients to understand the bulk annuity market and the options for trustees to buy-out benefits, including options for phased buy-outs, partial buy-outs, and passing a scheme to a financial institution to act as a replacement sponsoring employer. Subject to the size of the scheme we can also prepare a scheme-specific mortality analysis which can be useful information for a scheme considering an approach to the buy-out market.
If you would like to discuss how we can help, please contact Joe Byrne.
Other services that may interest you:Pensions Restructructing and Plan Reviews
Employer's Covenant Review