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:
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.
Can you afford a bulk annuity? Proving to insurers that you understand the costs and are highly likely to transact is a must.
The broking must be simple and effective – that is our job!
Simple doesn’t mean you compromise on security. The solution still makes sure all members get their exact benefits secured.