Changes in pensions have brought about an unintended shift in risk and responsibility from the employer to the employee.
What’s more every workforce is different and every employer has different needs for their employees.
We believe that there is no one size fits all when it comes to a pension arrangement. It's crucial for any pension scheme to be designed with the needs of the employer and members in mind.
So what do we think is important?
"It is important that members have confidence that they are saving into safe and durable products capable of delivering good outcomes"
The Pensions Regulator
"The Congregation of the Poor Servants of the Mother of God (PSMG) is a charitable organisation working out of a number of locations throughout the UK. [Punter Southall] Aspire have been working with us for several years on advising and guiding us to implement the right solutions for our employee pensions arrangements. They are a trusted partner who have taken time to understand our organisation and with whom we have an excellent working relationship"
Sister Margaret Herlihy, Bursar General, Poor Servants of the Mother of God
Employers have a range of drivers when setting a strategy for pension savings, such as:
We believe it's crucial to implement, review and maintain a pension arrangement that meets the employer’s strategy, whether that be a Group Personal Pension, Master Trust or Own-Trust arrangement.
Where an occupational pension scheme is used a board of Trustees have a duty of care to the scheme members as well as regulatory requirements to meet.
We support trustees in:
Assessing the value offered by their scheme and identifying if this can be improved
At the heart of the pension arrangement is the member.
For the current pension framework to be successful in helping people retire when they plan to, members must first engage with their savings during their working lives.
This means that pensions arrangements need to have the right engagement strategy - so our Communications consultancy service is here to help.
Do you have a query about your pension scheme or trustee duties?
Just fill out the form and one of our experts will be in touch shortly...