How can organisations use DC alternatives to provide a valued benefit to employees?
Our Partner and Head of Higher Education, Paul Hamilton, and Principal and Chartered Financial Planner, Martin Willis, looked at how organisations deal with rising costs of schemes, using DC schemes to control future costs whilst also offering flexible structures that employees value. The Assistant Director of Finance at University of Salford joined Martin and Paul in order to share his experience of implementing a DC pension scheme.
Key subject areas
- Background - Why are organisations that currently provide access to schemes such as TPS, LGPS and PCSPS looking at DC alternatives?
- Benefit design – How can DC schemes be structured to offer both good member outcomes and flexibility for members?
- Provider selection – Looking at the options available and what to prioritise from charges to online functionality. We’ll also look at the benefits of packaged arrangements designed specifically, for groups such as independent schools.
- Engagement – The importance of communicating any new structure, including any options open to members.