Defined Benefit (DB) schemes are central to our business.
The majority of the UK pensions market comprises smaller and medium sized schemes with a lesser number of very large schemes. Our client portfolio reflects this, ranging from schemes with assets of below £5m to those with assets running into tens of billions of pounds with household name sponsors. Our clients are as diverse as our Professional Trustees who work with them.
Whatever a scheme’s size and resources they all face the regular challenges of funding, investment and (seemingly ever increasing) governance. Within that they all have their own reasons for appointing a Professional Trustee, whether it is someone to share the load or bring additional expertise and direction or to address specific matters such as a corporate transaction, buy-in project or a stressed sponsor.
Most of our client schemes are closed to new entrants, many to future accrual and on de-risking flightpaths targeting self-sufficiency, buy-in or buy-out. Controlling volatility, risk and costs are also common themes. Going against the tide we have also set up a number of brand new schemes following corporate activity.
We work widely in all capacities, Chair, Co-Trustee, Sole Trustee or on an interim basis to support particular projects.