Notice
Undefined offset: 499
ee/legacy/libraries/relationship_parser/Parser.php, line 39
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/Channel_entries_parser.php, line 165
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/channel_entries_parser/Parser.php, line 386
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 209
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 210
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 212
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 213
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 255
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field_pair.php, line 82
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 55
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 56
Notice
Undefined index: recent_comment_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 57
Notice
Undefined index: expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 58
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 59
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 88
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 89
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 90
Notice
Undefined index: allow_comments
ee/legacy/libraries/channel_entries_parser/Parser.php, line 650
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 664
Notice
Undefined index: channel_title
ee/legacy/libraries/channel_entries_parser/Parser.php, line 524
Notice
Undefined index: channel_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 525
Notice
Undefined index: screen_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: username
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: photo_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 528
Notice
Undefined index: photo_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 529
Notice
Undefined index: avatar_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 531
Notice
Undefined index: avatar_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 532
Notice
Undefined index: sig_img_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 534
Notice
Undefined index: sig_img_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 535
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 536
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 553
Notice
Undefined index: entry_site_id
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 63
Notice
Undefined index: channel_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 64
Notice
Undefined index: comment_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 65
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field.php, line 54
Notice
Undefined offset: 499
ee/legacy/libraries/relationship_parser/Parser.php, line 39
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/Channel_entries_parser.php, line 165
Notice
Trying to access array offset on value of type null
ee/legacy/libraries/channel_entries_parser/Parser.php, line 386
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 209
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 210
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 212
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 213
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: entry_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 217
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 255
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field_pair.php, line 82
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 55
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 56
Notice
Undefined index: recent_comment_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 57
Notice
Undefined index: expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 58
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 59
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 83
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 88
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 89
Notice
Undefined index: edit_date
ee/legacy/libraries/channel_entries_parser/components/Date.php, line 90
Notice
Undefined index: allow_comments
ee/legacy/libraries/channel_entries_parser/Parser.php, line 650
Notice
Undefined index: comment_expiration_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 664
Notice
Undefined index: channel_title
ee/legacy/libraries/channel_entries_parser/Parser.php, line 524
Notice
Undefined index: channel_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 525
Notice
Undefined index: screen_name
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: username
ee/legacy/libraries/channel_entries_parser/Parser.php, line 526
Notice
Undefined index: photo_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 528
Notice
Undefined index: photo_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 529
Notice
Undefined index: avatar_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 531
Notice
Undefined index: avatar_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 532
Notice
Undefined index: sig_img_width
ee/legacy/libraries/channel_entries_parser/Parser.php, line 534
Notice
Undefined index: sig_img_height
ee/legacy/libraries/channel_entries_parser/Parser.php, line 535
Notice
Undefined index: entry_date
ee/legacy/libraries/channel_entries_parser/Parser.php, line 536
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/Parser.php, line 553
Notice
Undefined index: entry_site_id
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 63
Notice
Undefined index: channel_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 64
Notice
Undefined index: comment_url
ee/legacy/libraries/channel_entries_parser/components/Simple_variable.php, line 65
Notice
Undefined index: site_id
ee/legacy/libraries/channel_entries_parser/components/Custom_field.php, line 54
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_library.php, line 40
Notice
Undefined variable: _SESSION
user/addons/gmaps/libraries/gmaps_library.php, line 41
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_helper.php, line 565
Warning
session_start(): Cannot start session when headers already sent
user/addons/gmaps/libraries/gmaps_helper.php, line 565
Warning
Cannot modify header information - headers already sent by (output started at ee/legacy/core/Exceptions.php:120)
ee/EllisLab/ExpressionEngine/Boot/boot.common.php, line 493
How a buy-in accelerated the journey - Hymans Robertson
Your browser appears to have Javascript disabled. Javascript is used on this website for key functionality such as list filters and form validation. Please consider enabling Javascript. You can find out how to do this in your browser by visiting enable-javascript.com
Case Study
How a buy-in accelerated the journey
04 Oct 2019
The task
We recently supported a multi-billion £ pension scheme in securing their first buy-in transaction, which not only achieved attractive pricing but also incorporated a member options exercise.
This case study highlights the importance of setting a clear long term objective and how completing a buy-in can support you in reaching that ultimate goal.
The process
The Trustees and Company agreed that buy-out was the appropriate target. We supported them in developing a strategy to bridge the gap which balanced the needs of both parties – including a desire to de-risk and manage any corporate accounting impact.
Their strategy included a combination of opportunistic buy-ins, member engagement and investment returns.
Click here to expand the image.
The Trustees wanted to move quickly to:
Communicate with pensioners to offer a Pension Increase Exchange (PIE) option; and
Take advantage of attractive buy-in pricing.
We supported them in balancing these two projects in parallel to achieve a ground-breaking transaction which met the needs of all parties at a price which moved the Scheme nearer to their ultimate buy-out objective.
The Trustees set insurers a challenging target price for a buy-in transaction. The target was aligned to the long term objective and this clarity of process led to high insurer engagement in a busy market.
At the same time, the Trustees communicated with pensioner members included in the buy-in population giving them the option to take a PIE. Insurers were made aware of this exercise at the outset and asked to incorporate any changes based on actual take-up following the transaction.
The results
Following a competitive process, the Scheme secured pricing even better than their price target and we negotiated a bespoke approach to ensure the PIE exercise was incorporated on the same favourable terms.
This case study will have similarities to many other pension schemes wishing to juggle multiple projects and not miss out on attractive buy-in opportunities. It highlights the benefits of planning in advance and setting a clear objective.
In this example, the Scheme continues to track progress towards their objective and following recent positive experience, have implemented a price monitoring process to allow completion of a subsequent buy-in when insurer pricing meets their target.
Close
0 comments on this post