Defined benefit pension wind-up

Guiding you through the complexities

A wind-up involves a myriad of stakeholders, each with different needs and objectives. Our approach is to appoint an experienced wind up specialist to lead the complex transition, drawing on our wider expertise and a scheme’s other advisers as required.

The benefits of our approach are:

• Ensuring the wind-up is given the dedicated time and attention it needs.
   
• Managing and supporting each stakeholder efficiently and effectively, keeping the trustees/client informed throughout every stage of the process.
   
• Providing a depth of expert knowledge and experience necessary to manage the complex transition and ensure the right benefits are paid to the right people at the right time.

Right benefits, right people, right way

While technical expertise is required, that alone isn’t enough. The trustees’ knowledge and understanding of their scheme is crucial is ensuring the right benefits are secured for the right people and communicated in the right way.

Our approach draws on the trustees’ existing scheme knowledge and supplements this with our team of specialists, who have the wide-ranging experience and technical knowledge required to ensure all stages in the wind-up process are covered:

1. Planning, governance and communications – provide upfront clarity of costs, timescales and member communications strategy, and carry out surplus or deficit assessment.
2. Data cleanse – review and cleanse existing data, complete GMP reconciliation and equalisation.
3. Member options – decide whether to offer members choice, e.g. transfers or winding lump sums.
4. Securing benefits – review and select an insurer, transfer assets and complete buy-out smoothly and at the best price.
5. Completing the wind-up – agree when to trigger wind-up, inform stakeholders, complete final accounts, issue statutory notices etc and complete the process. 

Working with us

You will benefit from:

• Better outcomes – Secure your members’ benefits while controlling costs and managing risks – a win:win for all parties.
• Greater confidence – benefit from our specialist wind-up expertise together with a broad range of other experts, giving you confidence at every stage of the wind-up.
• A human touch – we’ll keep all parties well informed, particularly members, and reassured throughout.