Defined Benefit Services 

Aspect provides consultancy to defined benefit schemes that is faithful to the principles that we believe define our brand;

• Getting the best value from providers
• Providing good communication
• Applying principles of fairness

Typically, we will review your existing arrangements to ensure that they are a match for the profile of your scheme.  If your current arrangements were set up when your scheme was open to new members and future accrual, it may be time to review.  We have been able to show trustees and employers different ways of managing their schemes that provide significant time and cost savings.

Derrick Says

“Trustees are always hoping for outperformance of their investment funds by looking at the pedigree of their investment managers but scheme costs remain the most reliable indicator of future performance.  This is where we start any review process”.

In recent years, we have become involved in projects where schemes are undergoing change.  Our role has been to work as part of an in-house team to pull together the external advice you receive and your internal drivers and issues.  Having a consultancy brain as part of your team means that you are able to properly evaluate your options and make decisions that are cost aware and risk aware.

Our approach can dramatically reduce the risk that a pension scheme poses to your company's finances.  It can also have a positive impact on both your balance sheet and FRS17 reporting.

Derrick Says

“There is much debate in the pensions industry about the relative merits of defined benefit schemes being bundled (where an insurance company does the investment and provides the actuarial and administrative services) or unbundled (where different companies provide the investment, administration, and actuarial services).”

“The market is changing significantly and there is evidence that many schemes can dramatically reduce costs by going bundled. There are many options open to trustees and modern bundled arrangements can offer an attractive combination of investment freedom with low administration and actuarial costs.”