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Barnett Waddingham
0333 11 11 222
We provide the full range of actuarial services to the trustees of defined benefit (DB) pension schemes based on a culture of providing all of our clients with a high quality, professional service through strong personal relationships and tailored solutions while remaining competitive on fees.

This range of actuarial services includes advising on:

  • actuarial valuations using our proprietary interactive system, 'Illuminate' which enables the trustees to analyse the relationship between funding, investment and employer covenant;  funding negotiations with the employer; liaison with The Pensions Regulator; and any other valuation services as required by trustees
  • interim funding reviews, including the option for trustees to use our on-line tools to monitor changes to the funding level (and/or buy-out level and other funding measures) in between the formal valuations
  • integrated funding and investment strategies and de-risking frameworks
  • longevity analyses
  • scheme amendments, mergers, discontinuance, annuity buy-ins, buy-outs and scheme wind-up
  • employer cessation events and apportionment arrangements
  • actuarial factors for commutations, early/late retirements, transfers and other individual calculations
  • scheme governance and trustee training
  • changes in legislation, codes of practice and market practice

Significant experience:
  • we have over 50 Scheme Actuaries who are appointed to over 370 DB pension schemes
  • we provide tailored services to scheme trustees with fund sizes ranging from £1 million to £5 billion
  • the full range of services is provided from each of our eight offices across the UK
  • teams are made up of experienced advisers who are either professionally qualified or are studying for professional exams as part of our extensive professional training and development support. We currently employ 122 qualified actuaries

Related knowledge and resources

Blogs

  • Picture for Pension Scheme vs. Shareholders – a fine balance
    Pension Scheme vs. Shareholders – a fine balance

    Analysis and commentary on deficit reduction contributions (DRCs) versus dividends for FTSE350 companies with a DB pension scheme

  • Picture for VAT on pension costs - Part 5:  Throwing in the towel?
    VAT on pension costs - Part 5: Throwing in the towel?

    HM Revenue and Customs (HMRC) appears to have given up the fight in relation to VAT on defined benefit (DB) pension costs and as predicted, we may now never see a certain Europe-wide VAT ruling applied to pension schemes in the UK. Tyron Potts explores.

  • Picture for Don’t give up on USS?
    Don’t give up on USS?

    On Friday 17 November, Universities UK (UUK) said that they want all staff in the Universities Superannuation Scheme (USS) to earn only defined contribution (DC) benefits going forward. Paul Hamilton shares his expertise on the matter.

  • DB Scheme Funding - where do we go from here?

    Our recent survey suggested that trustees are engaged with TPR guidance but are still getting to grips with how to implement risk management. We discuss some of the key challenges DB schemes face and how good risk management can help meet them.

  • Current Pensions Issues - Summer 2017

    Our latest edition of Current Pensions Issues includes an overview of TPR's annual funding statement, Conservative manifesto policies following the snap general election, as well as the latest news on the PPF levy.

  • Current Pensions Issues Winter / Spring 2016-17

    The latest edition of Current Pensions Issues includes an overview of the DWP's Green paper on security and sustainability in DB schemes, The DWP's consultation on a proposed method for equalising GMPs, as well as the latest news from TRP and the PPF.

  • Nov 29 2016
    A practical guide to Integrated Risk Management

    During this webinar, our experts will share their insights on the pragmatic application of Integrated Risk Management and how this can benefit your scheme.

    Location: Webinar

  • Picture for Bulk annuity: current market and recent developments
    Bulk annuity: current market and recent developments

    Highly competitive insurer pricing compared to gilts is providing extremely attractive opportunities for schemes to remove both financial and longevity risks.

  • Picture for Pension flexibilities: Impact on DB schemes two years in
    Pension flexibilities: Impact on DB schemes two years in

    Now two years into freedom and choice in DC retirement savings, for members of a DB scheme making the most of these flexibilities will involve transferring to a DC arrangement. We provide an update on the lay of the land.

  • Picture for Buy-outs and Buy-ins Report 2016
    Buy-outs and Buy-ins Report 2016

    Our 2016 Bulk Annuity Annual Report discusses the latest developments in the buy-in and buy-out market. We highlight important issues for trustees and sponsoring employees as well as summarising the views of insurers on key aspects of the market.

  • Achieving higher returns with lower risk

    We were appointed to advise a client with ~£400m of assets in 2015 and this case study sets out how we worked with the trustees and employer to ultimately reduce risk and increase expected returns while working towards an agreed objective.

  • An out of control deficit

    We provide a regular funding and investment monitoring service to the trustees of a £40m scheme. We were asked to review the funding and investment strategies of the scheme, in particular with a view of reducing the risk of the deficit increasing further.

  • Contingency planning in action

    A client was looking to develop a financial management plan for the scheme, targeting a fully de-risked and liability matched investment strategy and moving on to buy-out. The plan aimed to strike a balance between reducing risk and business needs.

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