Key challenges for your corporate clients with a legacy DB scheme

Key challenges for your corporate clients with a legacy DB scheme

• The vast majority of defined benefit, or DB, pension schemes will need to navigate for many years through a complex and changing pensions landscape. With increasing demand on time and resources.
• In our experience of the market, the operational costs of running DB pension schemes can be disproportionately high; sometimes being one of the largest costs for a business. In the current climate many businesses are looking to reduce these costs.
• There may be concerns about the quality or relevance of services being received from the current service provider; with a lack of pro-activity, communication or use of technology, in a world where best practice and regulation is constantly evolving.
• Many legacy DB pension schemes are quickly maturing, with the end game on the horizon. Businesses need to be prepared and to have a clear end game strategy in place. Indeed, new regulations will require all DB pension schemes to have such a strategy.
• Consolidator vehicles such as Superfunds and DB Master Trusts may currently be too expensive or out of reach, with stringent entry requirements and significant upfront costs a barrier for many.

Questions to ask your corporate clients with a legacy DB scheme

• Do you need to better control the operational costs of running your DB scheme?
• Are you and your members receiving a good quality, timely service?
• Do you have a clear plan to reach the endgame?

XPS has the solution: Simply DB

Simply DB is our streamlined, cost effective service specifically aimed at businesses with a legacy DB scheme with between 50 and 300 members. We combine our vast experience of looking after DB pension schemes of this size, with our award-winning service and market leading technology.

• Control over costs through our transparent and competitive pricing structure. With no transition fee for schemes with less than 300 members if you switch to us. Also, there are no upfront professional fees, which is not the case with consolidator vehicles such as Superfunds and DB Master Trusts.
• An award winning administration service as standard, with emphasis on member satisfaction.
• Clear guidance throughout the journey to the DB scheme's endgame, with access to market leading technology.
• No stringent entry requirements and no immediate cash calls on the business. This is not necessarily the case with consolidator vehicles such as Superfunds and DB Master Trusts.

Our Simply DB service is about helping your corporate clients better manage their legacy DB pension scheme. And to potentially reduce their operating costs.

XPS specialise in providing services to trustees and businesses with occupational DB pension schemes. We advise around 1,500 pension schemes and administer pensions for nearly 1 million members; with a significant footprint in the smaller scheme end of the market.