Defined benefit pension schemes can be hard for employers to manage

Trustee prudence in defined benefit scheme funding can result in excessive caution in both investment policy and funding valuations.

This may lead to calls for the employer to contribute more money to the scheme. These are significant payments in many cases, and can interfere with business plans. Watch our short video to find out how to address this problem.

Employers with a scheme that is closed to new entrants or future benefits are particularly keen to reduce the ongoing business risks and manage the costs of providing those benefits.

Ultimately, the employer is responsible for delivering the defined benefits promised to members. But many employers struggle to exercise control over trustee decision-making.

How First Actuarial can help

Our services give employers peace of mind that they are fulfilling their pension responsibilities.

Overseeing scheme trustees

We work with employers to set up and maintain checks and balances to make sure that trustees:

  • Listen to employers and make allowances for their long-term plans for the scheme
  • Take a prudent approach to funding calculations, without being overly cautious
  • Produce investment strategies that are cost-effective and take account of the employer’s long-term plans
  • Consider all options – not just those that are easier for trustees – fully and openly

Company accounting

We also provide quick and accurate pension figures for company accounts, and keep employers informed so there are no unpleasant surprises at year end.

Managing liabilities

We can help you manage defined benefit risks with a sensible, phased approach to reducing liabilities, while protecting your scheme members, and your reputation. We can also help you reduce your scheme liabilities by supporting your members with the right information and explaining any complex areas. That way, you’re also helping your members can choose the right options to meet their needs. Whether your ultimate aim is to buy-out or to run on the scheme, we can get you to where you want to be, quickly and cost-effectively.

100% of employers rated our overall standard of work as excellent or good.

Get in touch

Get in touch to find out more about our employer services.

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First Actuarial case studies

Royal Mail

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.”

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Cheam School

With substantial increases in Teachers’ Pension Scheme (TPS) contributions looming for independent schools, Cheam School looked to First Actuarial for specialist support.

“We had a very good experience working with First Actuarial. I felt that they were always on the end of the phone, available to help and respond to issues as they arose."

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Bolton Cares

Taking responsibility for care services previously provided by a local authority, Bolton Cares turned to First Actuarial for help in setting up a competitive and affordable DC pension scheme for its staff.

“They’ve been really helpful and professional throughout the project, and we’ll use them again if we need specialist advice.”

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