Buy-in To Buyout Services

More and more schemes are completing a full scheme buy-in, taking many risks associated with the running of the pension scheme off the table. This is a significant step for the scheme sponsor, trustees and members. However, the post-buy-in phase can be a significant and lengthy phase if not managed appropriately. Not only does this incur additional costs for the sponsor and trustees, it also risks the trustees breaching the contractual data cleansing terms set out by the insurer.

Our specialist team understand the complex processes of a data cleansing period, moving to buyout, and ultimate wind up of the pension scheme. There are a number of ways we can use this knowledge to support you through this process.

In our experience, a robust project plan is critical to the success of this phase of a buyout project. Our project management approach is proactive, organised and communicative. We can support with:

• Creation of a robust project plan
• Seeking buy-in to the plan from key stakeholders, including you and your advisors
• Proactive management of the project plan, including regular updates at a frequency to suit you
• Identification, monitoring and resolution of key dependencies, issues and risks

The feedback we receive suggests that tasks like GMP equalisation and data cleansing can delay progression to winding up a scheme. Many administrators don’t have the capacity to support with these tasks for many months and sometimes even years. We can support with:

• Data verification with insurers
• Data searches and tracing
• Data rectification work (both missing data or incorrect data)
• Specific data projects such as GMP equalisation

For more information on how K3 can help please click here or contact Andrea Mendham, Partner & Head of Buy-in to Buyout services on:

e: andrea.mendham@k3advisory.com
t: 07597 561 208

For more information on how K3 can help please click here or contact Andrea Mendham, Partner & Head of Buy-in to Buyout services on: