Case Study

Successful Outcome for Educational Charity on Scheme Streamline

We assisted a large educational charity in the closure of its final salary pension scheme (1,000 members) to enable it to streamline pension provision for the whole of its workforce.

The client had already closed its final salary scheme to future entrants, but several hundred employees remained in active service. The work force was spread across multiple sites and included a range of flexible and part-time workers. A challenge was posed at the outset because of the way in which the client approached the trustees of the final salary scheme. The trustee board was large and had not anticipated the employer’s proposal. Our advice and meticulous planning enabled the employer to successfully engage with the trustees. The employee consultation and written communication on the proposed changes were extremely thorough and resulted in the agreement of all active scheme members.