DC consultancy

Many employers are concerned that defined contribution (DC) schemes will not provide a secure income for their employees and some are worried about the impact this will have on their succession planning.

Reviewing DC arrangements can often address some or all of these concerns. Our consultancy service can help employers look at their current arrangements and benchmark these for suitability in the future:

• consider the DC vehicle
• design
• investment
• provider selection
• engagement
• at retirement support

The DC vehicle

Many companies are reviewing the vehicle they use for their pension arrangements to see if a better service can be found to deliver outcomes that are more desirable for their employees.

Design

Using GEM, our pension analytical tool, we can look at contribution structures and model various contribution options or benefit outcomes across member groups.

Investment

Appropriate investment structures are paramount to good outcomes. A good investment framework should make it easy for members to follow a simple process that results in a tailored, sophisticated investment strategy that meets their needs. For more information visit DC Investment.

Provider selection

All providers are different and we maintain a rigorous due-diligence programme in relation to all of the main providers active in the DC pensions market.  This allows us to identify which providers would best meet an employer's specific needs.

Engagement and at retirement support

It is important for employers to have a strategy in place, not just around how to support those approaching retirement, but all DC members.  Support and guidance is needed at each life stage and we can help with the key messaging and design through our online portal, Me2.

“An employer needs to measure the return on investment and ensure that corporate objectives, such as recruitment and retention of staff as well as long-term employee education and engagement, are being met.”

Damian Stancombe
Partner, Barnett Waddingham