Transformative Collaboration: Achieving Improved Funding Position

Dalriada.Together® successfully overcame buy-out challenges, securing full funding and achieving an improved funding position, and boosting employer confidence and satisfaction.

Overview

The buy-out strategy faced complexity and employer dissatisfaction due to the lack of a long-term plan, rising costs and ongoing GMPE expenses.

Challenge 

The implementation of the scheme buy-out strategy had become intricate and expensive, leading to growing employer frustration. The absence of defined long-term objectives also hindered the investment strategy. Compounded by the extended and costly GMPE project, the scheme's complexity posed challenges.

Overcoming obstacles related to unique benefit structures was necessary to achieve the desired scheme outcome.

Solution  

With the employer keen to prepare the scheme for buy-out the Dalriada.Together approach was fully deployed to cleanse the data, confirm benefit specifications, complete the GMPE exercise and apply an appropriate investment strategy in collaboration with the employer. 

Dalriada’s experience in benefit structure, buy-out and member engagement allowed for an effective communication exercise with individual members. This resulted in all benefits being able to be converted and secured and not hindering the journey to buy-out.  

Benefit 

The employer was confident that requests from Dalriada were aligned to the long-term objectives that they had expressed for the scheme. The open and honest communication between the employer and Dalriada resulted in the employer engaging in the scheme’s journey plan and comfortable with the contributions required to meet the funding position identified.  

Working together with the employer and the members, obstacles in the way of a full buy-out were removed with the interests of the members at the heart of the decision-making process.  

Results 

The employer has found Dalriada’s approach refreshing and their ability to make demanding situations easy to navigate extremely beneficial. 

The result is that the employer and the trustees have been working together to meet the funding objectives identified. With the investment returns and employer contributions working together the scheme is now fully funded for buy-out.  

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True collaboration has transformed this pension scheme's long term future. Embrace the opportunity to optimise investments and foster a stronger relationship between trustees and employer. Contact us today and let's discuss your strategy!