Building resilience through a fresh approach to scheme funding
16 Nov 2015 - Estimated reading time: 5 minutes
A 15 year relationship
Hymans Robertson has a long-standing relationship with the Trustees of the Scottish Enterprise (SE) pension scheme. We have provided actuarial, consultancy and administration services for over 15 years, withstanding the regular and robust re-tendering discipline of the scheme Trustees. An open scheme with a strong sponsor, the Trustees were looking for cost stability and to reduce funding volatility; aiming for increased benefit security whilst keeping benefits affordable to the sponsor.
A clear and robust funding plan
Traditionally the management of pension scheme funding focuses on the level of contributions, or how much money is coming in. Through our 3D Funding approach - which looks at balancing contributions with the risk and reward exposure in the investment strategy and the employer’s willingness and ability to meet those costs and risks - we introduced a significant step change in how all parties considered scheme funding, integrating the Trustees’ and SE’s objectives, contributions, investments, and risk.