The Scheme Actuary helps make sure that Defined Benefit schemes are appropriately funded.
Being the trustee of a pension scheme means facing complex issues and personal liability. It can be hard to keep on top of the risks and rapid changes involved. And the level of specialist knowledge they’re expected to demonstrate can be overwhelming.
We believe trustees need all the help and protection they can get.
Our Scheme Actuaries put themselves in the shoes of the trustees they work with. The practical advice they offer strikes a balance between minimising the risks that trustees take and finding pragmatic solutions to the problems they face:
We are highly skilled at explaining our calculations and the options available in the most effective ways.
We have developed innovative software tools to support our Scheme Actuary work:
Our Scheme Actuaries are not afraid to challenge conventional approaches, where they think it right and judge it to be in the client’s best interest. They take full account of legislation, and their in-depth industry knowledge means that they understand The Pensions Regulator’s requirements.
Get in touch with one of our Scheme Actuaries to discuss how we can help you.
When we chose First Actuarial to be our actuaries and pensions advisers, we were looking for an expert personal service and for people who would work with us, enabling us to understand our pensions issues and to carry out as much of the administration as possible whilst providing guidance and expertise and a fall-back in case of staff changes. This is exactly what we have got. We receive clear advice on the things we need to know, quick responses on administrative support, and a flexible approach which enables us to understand what drives the actuarial figures and what we can or can’t do about them.
- James Archer, Finance DirectorAs a result of an unusual clause in their trust deeds, Trustees of the pension scheme sponsored by the Society of British Aerospace Companies (SBAC) funded their liabilities on a buy-out basis.
“First Actuarial are very proactive. They respond quickly and get things done. They have proved to be competent and conscientious, and have a very professional and personable approach to business relations.”
Trustee Directors of the PremierFirst Vehicle Rental Pension Scheme struggled to find documents, and needed staff support and storage space for the archive held by the employer, Europcar, until they moved to the Client Hub.
“First Actuarial offered us a sensible and well-priced proposition. They supported us very well in uploading all our information in a structured way.
We’re not aware of any document going missing in the process. And it’s maintained very well.”
The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.
“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”