A unique proposition
The bulk annuity market is extremely busy. This has not been good news for all schemes. The market for schemes below £30m in size has become more difficult with many schemes of this size struggling to get insurers interested in quoting.
Research by the Pension Protection Fund showed that over a third of all schemes have fewer than 99 members and on average assets below £10m. Further, most schemes are below 1,000 members with average asset size below £35m. Therefore, most schemes will have a hard time getting a good deal on bulk annuities.
K3 works with schemes of all sizes but has developed a unique approach, K3 Engage ©, targeted at small schemes with the sole aim to unlock better value in the market with cost and timescale certainity.
K3 Engage ©
We have adapted our tried and tested approach for larger schemes to make smaller schemes stand-out for the right reasons. Key to our approach:
Preparation
For smaller schemes it is absolutely critical that you are well prepared to transact before approaching market. Poorly prepared schemes simply will not get insurers to quote.
Affordability
Can you afford a bulk annuity? Proving to insurers that you understand the costs and are highly likely to transact is a must.
Simplicity
The broking must be simple and effective – that is our job!
Secure
Simple doesn’t mean you compromise on security. The solution still makes sure all members get their exact benefits secured.