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 corporate 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 corporate 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:
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. This sort of plan is increasingly expected by trustees and the regulator. This plan should set out the ultimate endgame for the scheme together with any short term actions that are part of the journey and exploit opportunities as they arise.
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 buy-out 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.
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 corporate 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 MBW International, a joint venture between Barnett Waddingham and Milliman. MBW International is ideally placed to co-ordinate the global retirement benefits programme for companies with headquarters in the UK. We will do this by building on the full range of pension and employee benefit services Milliman provides globally and Barnett Waddingham provides in the UK.