Multi-Employer Pension Scheme Advice
Your plan. Our priority. That’s Quantum.
Are you an employer participating in a defined benefit multi-employer pension scheme such as the Local Government Pension Scheme (LGPS), Social Housing Pension Scheme (SHPS) or the Teachers Pension Scheme (TPS)? These arrangements help you attract and retain staff but can also face significant challenges, such as unpredictability of contribution requirements or a lack of in-house expertise to understand and react to key issues.
Partners in Confidence
At Quantum Advisory we understand these unique pressures and offer a specialist service to employers participating in multi-employer defined benefit schemes who may be struggling with:
- Not having enough foresight of contribution requirements, seeing them change significantly with little warning
- Facing the risk of future contributions becoming unaffordable and not knowing what can be done to reduce this risk
- Employer boards lacking the expertise and resource to understand and react to the key issues and developments within their scheme
- Being unable to challenge FRS 102 accounting assumptions, being forced to accept results, resulting in sudden balance sheet movements and changing annual pension costs
- Lack of engagement with their scheme, resulting in the employer losing touch with developments
- Lack of appreciation and understanding of the benefits for those employees who participate
- Not having harmonised pension benefits for all employees
Our services are designed to give you a clear understanding of your pension obligations, provide foresight into future costs, help you mitigate risks, ensure compliance, improve employee engagement and ultimately contribute to your organisation’s success. We can provide:
- Full pension reviews – understanding your immediate and long-term costs and risks, reviewing options to mitigate these and then helping to set and implement alternative pensions strategies that can include communicating changes to employees
- Annual monitoring of pension strategy - five-year contribution projections, review of FRS 102 assumptions and results
- Troubleshooting – providing regular training, giving proactive advice, being a consistent pensions resource on hand to help senior management
- Flexible benefits offering – allowing you to provide employees with a benefits offering that they can shape to their needs
- Employee engagement – providing seminars, webinars, one-to-one sessions, financial awareness videos and platforms for flexible benefits and salary sacrifice
Further reading
Our thoughts on the LGPS Valuation
Teachers’ Pension Scheme employer contribution rate rises – what can independent schools do about it?
Talk to our team
Get in touch with our friendly team today to talk about how we can help your business.