Trustee actuarial consulting
As Trustee, you are responsible for pension scheme members' financial security. It is therefore essential that you have confidence in your actuary.
At Buck, we believe that the provision of quality actuarial consultancy services demands more than simply possessing the highly technical expertise required to prepare valuations and experience studies. We insist that our consultants bring additional expertise to projects: communication and broad business viewpoints. This expertise can be as valuable as their actuarial proficiency.
Our consultants take pride in anticipating and identifying concerns and needs before they develop into problems. This is achieved by having a close working relationship with our Trustee clients, continuous tracking of funding progress, and monitoring the legislative and regulatory environment. This enables us to suggest actions plans that fit a Board of Trustees' philosophy and objectives.
Each Board of Trustees is assigned a dedicated actuarial team whose role is to become familiar with every aspect of your scheme's requirements. The team is led by one of our senior consultants, an account manager. The team members work directly with you to analyse the problems and issues and deliver a customised solution. This process includes information analysis, assumptions setting, and presentation of the final results. We pride ourselves on our reports being timely, accurate, informative, and understandable.
Our actuarial team couples their technical skills with innovative ideas to keep your scheme sustainable and ready for what's ahead.
Performing formal actuarial valuations: Delivered using clear language and in line with all statutory requirements and professional standards, we pride ourselves in making the valuation process a useful exercise for Trustees rather than a rudimentary tick-the-box exercise.
Funding updates and monitoring: We believe that our Trustee clients should be informed of the funding position of their scheme on a regular basis rather than at the annual or triennial valuation only. We have developed the tools enabling us to track assets and liabilities continuously, on various bases, at minimal costs.
Asset Liability Modeling: Funded status measures are often our clients' most-watched lever. Our actuaries and investment consultants model assets and liabilities together so that you can see how your scheme reacts in various economic scenarios and develop the best risk mitigation strategies. For further information on our Asset Liability Modeling and investment consulting services, please see Buck Global Investment Advisors.
Advising Trustees on day-to-day actuarial factors and processes: We undertake this important work methodically, factoring in the latest actuarial standards, thinking, and methodologies.
Carrying out member-specific calculations and costing: We do so in a cost effective-manner, using frequently updated calculation tools supported by actuaries and communication media developed by our award-winning Communication consultants.
Advising Trustees on the impact of legislation: The UK pension universe is a legislative minefield. Supported by our dedicated Knowledge and Research team, our consultants will help you navigate this legislative minefield.