Dalriada.Together: Reflecting on 2024 and Looking Ahead to 2025

As the year draws to a close, the Dalriada.Together team reflects on an extraordinary inaugural year. Launched in January 2024, we introduced the UK’s first fully integrated operational pension consolidation model, combining trusteeship, governance, and administration all delivered in-house. This innovation has transformed how pension schemes are managed, offering a streamlined, efficient solution tailored to smaller schemes grappling with rising costs, compliance challenges, and regulatory pressures.

With nine schemes onboarded this year we have demonstrated Dalriada.Together’s ability to transform pension scheme management. By streamlining processes and enhancing member outcomes, the model has laid a solid foundation for more schemes to benefit in the same way. The team is now focussing on building on this momentum into 2025 – expanding the offering, driving innovation, and helping even more schemes navigate the increasing complexities of pension scheme management.

The holistic nature of our approach is crucial. Smaller schemes often struggle under the weight of regulatory and administrative demands, consuming significant sponsor time and resources. By integrating trusteeship, governance, and administration into a single operational pension consolidation solution, supported by Mantle’s^® cutting-edge technology, the model eases these burdens, offering a more efficient and manageable way forward.

Mantle enables real-time balance sheet calculations and other financial metrics  based on live scheme data. This capability allows for swift, informed decision-making, reducing complexity and empowering trustees to deliver better outcomes for employers and members alike. By taking on the heavy lifting of compliance, governance, and administration, we give sponsors peace of mind while freeing up their time to focus on their core business priorities.

A Year of Milestones

The first year of Dalriada.Together has been marked by significant achievements. A total of 34 schemes now use the service, recognising the value of a cost-effective, fully integrated solution. This includes nine new schemes transitioned over 2024 with precision, ensuring a smooth handover of administration and regular communication with members to build trust and transparency.

Notable milestones included delivering on long-term objectives for schemes, completing our first buy-in, and making substantial progress toward a buy-out, anticipated within the next year or so. Additionally, critical projects such as data cleansing and preparation for the Pensions Dashboards have positioned schemes for future compliance and efficiency.

Lessons Learned

One of our key takeaways from the past year has been the importance of ensuring a smooth and swift transition of scheme administration. This process minimises disruption and sets the tone for ongoing management. Regular, clear communication with members has also proven invaluable, helping to foster confidence and maintain strong relationships.

The feedback from schemes has underscored the appeal of the Dalriada.Together model. Sponsors have consistently highlighted the peace of mind that comes from knowing their schemes are well-managed, as well as the significant time savings they’ve experienced. For many, the ability to offload the complexities of pensions management while remaining involved in strategic decision-making has been attractive.

Growing Demand

As the pressures on smaller schemes continue to mount, we are well-positioned to meet the growing demand for pension consolidation solutions. Rising compliance costs as a result of new regulatory requirements, and the increasing complexity of scheme management are driving more sponsors of schemes to consider the benefits of an integrated model.

Dalriada.Together is not just a response to these challenges – it’s a proactive solution. By offering a seamless approach to operational pension consolidation, supported by state-of-the-art technology, the model provides schemes with a sustainable path forward.

Looking Ahead to 2025

With more schemes expected to join us, our focus will remain on delivering exceptional service, ensuring smooth transitions, and achieving key objectives for each scheme. Projects such as additional buy-ins, ongoing preparation for the Pensions Dashboard, and further data cleansing will continue to drive value for employers and members.

Dalriada.Together is also set to enhance its technological capabilities, leveraging Mantle to deliver even greater insights and efficiencies. By staying ahead of industry trends and regulatory changes, the model will remain a trusted partner for schemes navigating an increasingly complex landscape.

A Shared Vision

As we look to the future, the success is a reflection of the collaborative culture that underpins the model. Bringing trustees, administrators, advisors and sponsors together under one cohesive framework has not only simplified pension scheme management but also fostered a shared sense of purpose.

The team’s commitment to continuous improvement, innovation, and member-focussed outcomes ensures that we remain a leader in pension consolidation.  For sponsors, it offers a way to reduce the burden of scheme management while maintaining control over strategy. For members, it ensures their interests are safeguarded by a model designed for long-term sustainability and success.

Vassos Vassou said, “to the sponsors and schemes that have joined Dalriada.Together this year, thank you for trusting us with your pension scheme management journey. Your partnership has been instrumental in shaping the model’s success and driving its evolution.

As 2025 approaches, we are ready to embrace new challenges and opportunities, building on the achievements of our first year. The vision remains clear: to provide an innovative, integrated solution that simplifies pension scheme management, enhances outcomes, and delivers peace of mind for all stakeholders.”

Interested in learning more about our Dalriada. Together service?

If you’re ready to experience the benefits of our operational pension consolidation model backed by cutting-edge technology, get in touch with our team today. Let us help you navigate the complexities of pension scheme management with confidence and ease.

Learn more about Dalriada.Together today.