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Barnett Waddingham
0333 11 11 222

Case studies

Defining the benefits of DB transfers: members and families

Following the introduction of ‘Pension Freedoms’ in 2015, we examine whether members of Money Purchase schemes should choose to transfer from defined benefit occupational pension schemes. Let us introduce you to John and Sarah.

Achieving higher returns with lower risk

We were appointed to advise a client with ~£400m of assets in 2015 and this case study sets out how we worked with the trustees and employer to ultimately reduce risk and increase expected returns while working towards an agreed objective.

An out of control deficit

We provide a regular funding and investment monitoring service to the trustees of a £40m scheme. The trustees asked us to review the funding and investment strategies of the scheme, in particular with a view of reducing the risk of the deficit increasing further.

Contingency planning in action

We recently advised a client that was looking to develop a comprehensive financial management plan for the scheme, targeting a fully de-risked and liability matched investment strategy in the mid-2020s and thereafter moving on to buy-out. This plan aimed to strike a balance between the trustees’ desire to reduce risk, and the employer’s business needs.

A complex covenant structure

One of our clients has been facing some challenging covenant issues and so our actuarial and investment consulting teams have worked closely together to provide proactive advice to help the trustees take steps to strategically manage these risks.

Gold bullion: the only physical commodity allowed in a SIPP or SSAS

The FCA has added physical gold Bullion to its list of ‘standard assets', and is the only physical commodity allowed in a SIPP or SSAS. This case study shows how an investor can end up with commodities other than gold Bullion in a self-invested pension.

By GAD! Drawdown yields to lower levels

Without warning, new Government Actuary’s Department tables for capped drawdown suddenly appeared from HM Revenue & Customs (HMRC) on 18 January 2017. This case study reviews what impact changes to the GAD tables might have on 65 year old Donald.

Using a SSAS loan-back to assist a company’s expansion plans

Employer loan-backs are the unique feature of a SSAS. As the following case study serves to illustrate, SSAS loan-backs continue to offer an alternative source of finance for businesses, and an attractive investment for the SSAS member trustees.

Member communication and engagement - benefit accrual switch

ECITB appointed Barnett Waddingham in 2015 to provide member communication consultancy to their scheme members, relating to the proposed switch of future benefit accrual from the DB to DC section of their scheme.

The impact of PIP transitional rules on existing regular contributions

This case study examines the effect on existing regular contributions where the Pension Input Period (PIP) is already aligned with the tax year, using ‘Fred’ and his Self-Invested Personal Pension Plan (SIPP) as an example.

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