Getting member communications right on the journey to buy-out

It’s often said that the decision to buy-out is one of the most important decisions a Trustee can make, so how do you communicate a buy-out to members?

As schemes strive to reduce the period between buy-in and buy-out, trustees face a delicate balancing act. Communicate too early and expectations may need to be managed later. Leave it too late and run the risk of explaining complex decisions to members in a compressed timeframe. Members could be faced with complex decisions under pressure.

The challenge isn't whether to communicate, but how to strike the right balance between planning early and communicating at the right time with the right messaging, sometimes within a short timeframe.

In this publication, we explore how trustees can build a communications strategy that helps members feel informed, reassured and confident throughout the journey to buy-out. Inside, we explore:

• what members need to know and what matters most to them
• when communications should be delivered to support decision-making and avoid surprises
• how to choose the right channels and engagement approach for different messages

Read our publication

If you have questions, we'd love to hear from you! Please get in touch.

This communication has been compiled by Hymans Robertson LLP, and is based upon their understanding of events as at date of issue and therefore may be subject to change. This publication is designed to be a general summary of the risk transfer and bulk annuity market and is not specific to the circumstances of any particular employer or pension scheme. The information contained herein is not to be construed as advice and should not be considered
a substitute for specific advice in relation to individual circumstances. Hymans Robertson LLP accepts no liability for errors or omission. 

Where the subject of this note refers to legal matters please note that Hymans Robertson LLP is not qualified to give legal advice therefore we recommend that you seek legal advice. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss any issue in greater detail.