Independent schools briefing, Q2 2021

Independent schools offer a diverse range of Defined Benefit pensions to teaching and non-teaching staff. In this briefing, we summarise those various DB arrangements and provide more information for those who require further details.

First Actuarial case studies

Barnardo’s

Leading UK charity, Barnardo’s, needed to review the group life assurance market as its policy approached renewal. First Actuarial listened carefully to Barnardo’s objectives and negotiated a cost-effective group life assurance premium.

BACB

At London-based British Arab Commercial Bank (BACB), there was an increasing focus on getting a better deal for members of the Defined Contribution (DC) Scheme. First Actuarial helped BACB move the Scheme to a master trust, delivering time and cost savings while improving the member experience.

Standard Group

Independent trustee ZEDRA approached First Actuarial to help take the Standard Group (UK) Pension Scheme through a £26m buy-in and wind-up. First Actuarial supported the Trustee throughout the process, with its end-to-end risk transfer service.