This is overlaid on the workforce based on their age and has three key components:
In order to achieve both corporate objectives and member empowerment our governance and engagement solution segments the workforce to specifically target these three areas and aligns appropriate investment design to these stages.
Our client portfolio currently exists of 200+ DC schemes across Trust, Master Trust and Contract ranging in size.
Our DC consultancy services are at the heart of our proposition but we look wider than this, allowing employers to offer a more holistic approach to employees for saving for later life.
Other services include day-to-day operational support, scheme governance, investment, member engagement, and consultancy advice (on matters such as legislation and investment strategy).
An employer will make a very generous contribution of 10% to a pension, but only if the employee makes a contribution of 6%. However, some employees are unable to make the 6%.
The DC pension formula (growth stage) is pivoted on the trinity of how long you put money in to it, how much you put in to it and net investment return.
Managing the risks is just as important in DC as it is in DB. By using the right kind of risk measures, we can focus on investment strategies on the end goals that actually matter.
As more of the property market opens up to investments, property should remain an important part of pension scheme’s strategies.
Our PerioDiC Spring newsletter summarises the trustee, company and other elements to be aware of which help with running a defined contribution (DC) scheme.
From 2019/20 the LTA will be £1,055,000 and there's been a continued increase in the use of EGLPs for employees who already have a high level of benefit in a registered scheme. This briefing talks about an important change to eligible beneficiaries.
In a world where legislation, products and most importantly of all, member needs are constantly evolving, ongoing governance is vital to ensure DC arrangements remain suitable. We look at how a well-designed governance structure can prepare a scheme for future challenges that might arise.
We examine the pension scheme journey of Mitchells & Butlers, one of the largest operators of restaurants, pubs and bars in the UK. Both company and trustees worked together to deliver a market-leading DC scheme with better outcomes for members at its core.
At our DC Conference, we helped delegates understand the experiences, challenges and thought processes of their members to enable them to make better decisions for their scheme – truly putting themselves in their members’ shoes.
Our Beyond Pensions report reveals that UK employers care about the financial needs of their employees and want to help alleviate their financial stress, but are not hitting the spot.
50% of employers are concerned that DC is not being used for its primary purpose
Following the introduction of the new pension freedoms, many studies have researched how employees’ attitudes have changed in relation to retirement saving. However, no studies (until now) have asked employers how their attitudes have changed.
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.
We are delighted to be recognised for the third consecutive year at Pension Insight’s DC Awards, being named ‘Financial Wellbeing Consultancy of the Year’.
Our innovative approach to benefit consultancy and unwavering commitment to solving clients’ workforce challenges were recognised last night at the Workplace Savings and Benefits Awards.
For the second consecutive year, we are delighted to have been named ‘DC Adviser of the Year’ at Pensions Insight's DC Awards.