Scheme review and design

Defined Benefit pension schemes can become inefficient and costly

Defined Benefit pension schemes that at one stage aligned with the business in a cost-effective way, can over time become inefficient, inappropriate and costly.

It makes sound business sense to carry out regular reviews of your pension arrangements, making sure they remain fit for purpose.

How can First Actuarial help?

Our benefit review highlights potential problems, and sets out possible changes along with a process to put them in place. We draw on our extensive experience to work out what is feasible, and how easy or difficult any changes will be.

Where substantial changes are required, we can provide a full range of options, including cash balance, Collective Defined Contribution and Defined Contribution plans. We have knowledge and experience of all types of pension scheme and can guide you to the right scheme type or design for your needs.

We’ll then help you get from your current position to the new arrangement cost-effectively, and with minimum disruption.

Why choose First Actuarial?

Our consultants are highly experienced at proposing change, whether to a board of directors or scheme members. We use our ModelScheme software to show you projections of future scheme developments under different benefit structures. This is a useful tool for evaluating your options, and the charts it generates are persuasive.

If you decide to modify your scheme, our consultants will support you in making changes quickly and efficiently. We offer vast experience of negotiating with trustees and communicating changes to scheme members.

Get in touch

Get in touch with one of our consultants to discuss how we can help you

Having recently appointed First Actuarial, we have, within a short period of time, reviewed and assessed all aspects of our Company’s pension fund. We have been most impressed with their efficient, professional approach and would have no hesitation in recommending their services to any potential customer.

– David Brunton, Managing Director

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