Actuarial services for employers
A full range of independent actuarial and investment services for employers DB pension schemes
We work in partnership with our clients to understand their pension issues and challenges to provide tailored solutions.
Delivering independent and quality Employer Consulting advice, we bring bespoke insights and solutions that are tailored to our client’s needs. Our personal relationship and nimble approach means we provide actionable outcomes.
We are a specialist team with in depth knowledge of the pensions and risk markets for Employer Consulting clients. We provide all our clients with innovative solutions that are solely focussed on meeting their goals without being driven by products.
Further information on the specific services we provide can be found below:
Our actuarial, investment and specialist bulk annuity advice centred on Tate & Lyle's £1bn+ UK DB pension scheme. Discover how we secured all members’ benefits with a bulk annuity insurer, successfully de-risking the scheme seven years ahead of plan.Read the case study
Many employers have taken steps to limit their pension scheme exposure by closing their DB scheme to new entrants and increasingly to future accrual. This still leaves them with a legacy liability that needs to be managed carefully, as many schemes are now moving to being net annual disinvestors. Winding up the scheme immediately is not a viable option for most employers but having a robust and tested long-term plan for the scheme will help the company ensure this liability is managed as effectively as possible.
More flexible working practices and greater diversity in the workplace have resulted in greater variety in employee benefit packages.
Ensuring tailored advice to each unique scheme and trustee board with strategy and risk at the core. We provide comprehensive, innovative, client focused investment consultancy services to Trustees, Employers, Charities, Local Authorities and Universities.
Many trustees and employers are actively considering the option of insuring their scheme liabilities with a bulk annuity insurer through a buy-out or buy-in policy. When considering a buyout or buy-in of a scheme's liabilities, it is important that the trustees and employer prepare carefully for a transaction in advance so that a deal can be completed efficiently.
Liability management exercises are now a standard part of an employer’s toolbox to manage the cost and risks of a DB scheme. They involve providing members of the scheme with more options to take their benefits that, when taken, reduce the cost or risk (or both) of a DB scheme.
The funding positions of pension schemes disclosed in company accounts can be highly volatile. It is vital that company directors understand the possible impact their final salary scheme can have on the company balance sheet and the profit and loss position.
Stochastic modelling techniques are used to place a ‘fair value‘ on share-based payments from all types of Executive and Employee share plans in order to determine the company balance sheet and the profit and loss position under IFRS 2.
The ever increasing compliance burden placed on trustees is inevitably leading them to play ‘hard ball’ with their sponsoring employers over the funding of schemes. Therefore, it will often be beneficial for employers to seek independent advice to support their negotiations with the Trustees.
The levy is often a significant expense for an employer to bear and although addressed to the trustees the cost will ultimately fall on the employer. It is therefore important for employers to explore every possible option for minimising the levy.
One of the most financially significant aspects of a Employer Consulting transaction is often a pension scheme deficit. The Pensions Regulator and scheme’s trustees are also playing a much greater role in the deal process so it is vital to consider the pension scheme at an early stage.
When taking on staff as part of an outsourcing arrangement, employers may become responsible for the employees’ historic pensions promises, meaning any unexpected costs from the pensions could dwarf any other margins in the contract price.
Provision of actuarial services to employers who participate in non-associated multi-employer schemes. This includes support on actuarial valuations, employer debt and de-risking options.
Our international consulting services are provided by MBWL International, a joint venture between Barnett Waddingham, Milliman and Lurse. MBWL International co-ordinates the global retirement benefits programme for multinational companies in need of quality, independent expertise. We do this by building on the full range of pension and employee benefit services Milliman provides globally, Barnett Waddingham provides in the UK and Lurse provides in Germany.