Compass Winter 2021
In our quarterly publication of Compass, we provide commentary and analysis of recent legislative and regulatory developments affecting pensions and employee benefits.
In this edition of Compass, we take a look at the significant announcements made in the Autumn Budget 2021, with a focus on pensions tax relief and the charge cap review. The second feature article looks at climate change and the role of pension schemes in achieving climate goals.
Helping you meet today’s responsibilities while shaping the future.
The complex and ever-changing challenges of pensions mean that trustees require expert advice and guidance to perform their duties. Pension schemes have many moving parts and having oversight and control of these is a major challenge. It can feel overwhelming at times and schemes need to be confident that they are fulfilling all their legal responsibilities and governance duties.
For pension schemes that are open to current employees and new joiners, pensions will represent the biggest part of an employee’s remuneration package after salary. This means employers want to ensure their scheme is attractive to new and existing employees, as well as ensuring it meets all the necessary governance requirement.
As one of the UK’s leading advisers of pension schemes, our experienced pensions consultants can help you navigate these challenges, and provide clarity and confidence, by devising a long-term strategy with pension scheme trustees and the sponsoring employer. Our services include:
- DB and DC pensions consulting
- Strategic pensions advice
- Scheme management
- Pension scheme governance
- Trustee secretarial services
- Pension scheme special projects
- Auto-enrolment solutions
- Default investment fund review for DC schemes
34%
of people have no idea how much they have in their pensions pot
77%
of people say they don’t understand enough about their pension to make considered changes
53%
of employees want coaching on all aspects of retirement
01
Meet your fiduciary responsibilities
Our consulting services enable trustees to fulfil their fiduciary responsibilities with regards to their pension scheme.
02
Expertise to ensure compliance
Excellent knowledge of the regulatory and legislative landscape means that clients can be confident that they are fulfilling their duties.
03
Full scheme management and governance
Scheme management and scheme governance ensures trustees stay compliant. We can project-manage key challenges over the year, provide a point of contact for all other pension services and co-ordinate these.
04
Collaboration for a successful pensions strategy
We formulate the pensions strategy with trustee or sponsoring employer with regards to their pension scheme which could include running to a sustainable end, fast-tracking towards exit, member engagement and communications.
05
Day to day running of your scheme
We provide scheme secretarial services to take responsibility for the day-to-day running of the scheme.
06
Expert secretarial services
Many of our consultants have also been appointed as secretary to schemes, giving them a broader perspective of the challenges that schemes face, and providing more of a partnership approach.
Why Capita
- A team of 150 specialists; we’re pension consultants to over 150 UK pensions schemes across both DB, DC and Hybrid arrangements, with over 430,000 members, and across all industries.
- An established, holistic consulting function advising on end-date journey planning, scheme governance and broader scheme management.
- Trusted advisers to the sponsoring employer as well as to the Trustee Board.
- Excellent client management; most clients have been with Capita for more than ten years.
- With a finite budget we provide schemes with a clearer understanding of costs for the year ahead.
- Our consultants are highly experienced with the ability to draw from across the consulting practice, as well as our pensions administration, member engagement and data specialists.
How can we help your organisation?
Get in touch01
Actuarial consulting
Trusted as scheme actuary to over 200 pension schemes, our actuarial services include advice on pensions strategy and funding position, regular valuations, journey planning, de-risking, GMP equalisation and integrated risk management.
02
Investment consulting
Our consultants work with you to ensure your scheme has the right balance of risks and costs for all stakeholders, developing compliant investment strategies which support you to deliver against your long-term objectives.
03
De-risking pensions
If you’re looking to have your scheme’s assets and liabilities bought by an insurer to reduce risk, we can help you get your scheme ready – from identifying the best time to sell to the transaction completion.