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 145 qualified actuaries

"Barnett Waddingham has an outstanding work ethos; always keen to meet clients’ specific challenges with a sensible, personal and pragmatic approach, which sets it apart in the consultancy space. It puts member outcomes at the heart of everything it does."
Pensions Age Awards 2020 Judging panel

Further reading:

Barnett Waddingham Illuminate

Greater clarity and focus for your pension strategy

Find out more

CASE STUDY

Tate & Lyle: a journey plan in half the time

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

Pension schemes which have been closed to new members or to new benefit accrual bring many challenges for their trustees.

In particular many closed schemes may expect to run off over a long period of time and need a cost-effective advisory service during this period that will minimise management expenses.

FIND OUT MORE

Once a scheme has no more active members, we call it a winding down scheme.  The benefits for all members are known, albeit they may be subject to unknown future price inflation, and we don't know how long they will be paid for. 

FIND OUT MORE