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XPS_Simply DB_Transitions_v1 Flipbook PDF

XPS_Simply DB_Transitions_v1


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A cost-effective solution for smaller schemes

Introduction The vast majority of smaller defined benefit (DB) pension schemes will need to navigate for many years through a complex and changing pensions landscape, with increasing demand on time and resources. This can be particularly challenging for those looking to control costs.

Challenges you face… The seemingly ever increasing and disproportionate costs of running your legacy DB pension scheme There’s pressure from the sponsoring employer to cut costs and drive efficiency Not getting value for money from your current provider Concernes about the quality or relevance of the services you currently receive Buyout or consolidation is currently too expensive or out of reach

XPS Simply DB is the solution… We’ll keep costs under control through our transparent pricing structure without compromising on service We offer a streamlined compliance-driven service, with the flexibility to access additional services and specialists when you need them We invest in award-winning technology and solutions for the benefit of all our clients We provide a highly efficient service, with emphasis on member satisfaction We’ll give clear guidance throughout your journey to the scheme’s endgame

Now more than ever we expect sponsors of smaller DB schemes to be reviewing their operational costs. XPS Simply DB offers a quality service with high levels of efficiency, utilising our own vast experience and that inherited from the acquisitions of Royal London Consulting Actuaries and Trigon Pensions. Gerry Devenney XPS Pensions

XPS Simply DB | 1

Welcome to XPS

XPS

A compliant pension service designed specifically for smaller DB schemes.

XPS Simply DB is designed to be very flexible and transparent when it comes to the services we provide and their associated costs.

XPS Simply DB gives you:

core service options

One size doesn’t fit all – we understand that. XPS Simply DB puts you in the driving seat when it comes to the services you want and ultimately the fees you pay.

control over costs flexibility to mix and match the services you require

Select the services to suit your needs

an efficient quality service as standard strong governance Utilising our award winning services and technology with our passion for providing the very best member and client experience.

Actuarial

Actuarial

Administration

Pragmatic and proportionate actuarial advice that addresses the complex challenges you face.

• Triennial actuarial valuation

• Deal directly with members

• Actuarial factor review every 3 years, including transfer values

• Benefit quotes and general queries

We help develop strategies to achieve long term objectives and provide access to the latest technology, such as RADAR, to give insight and to manage risks.

• Actuary attends a trustee meeting each year

Award-winning, client and member-focused pension scheme administration.

Administration

Investment consulting

The core options include the essential compliance services we should provide as a minimum, but there is flexibility to add services to your package, or to remove some.

• Annual funding updates* • Access to RADAR, our award winning on-line funding and risk management tool*

• Cashiering • Draft annual trustee report and accounts • Cashflow forecasting* • Submit online scheme return*

We put members at the heart of everything we do. We have no call centres or offshored services and we regularly measure how we are performing using member and client questionnaires.

Independent and clear investment advice based on expert analysis. We help you choose the right investment strategy to maximise returns and/or minimise your level of risk. We will help you to implement this, with no constraints on which investment managers to use.

Investment consulting

Governance

• Annual investment report

• Attend 2 trustee meetings a year

• Investment consultant attends a trustee meeting each year

• Prepare and agree agenda

• Annual review of statement of investment principles / investment policy • Triennial investment strategy and journey planning review

Governance

• Pensioner payroll

• Collate and distribute meeting packs • Draft, circulate and finalise minutes • Provide simple governance templates • Online document storage

A complete secretarial solution from a team of experts allowing you to focus fully on the difficult subjects tabled for discussion. We have the experience, skills, knowledge and understanding of how important good governance is to the running of your pension scheme.  * Core service if scheme has 100 or more members

No. 1 rated TPA

Employee Engagement

2 | XPS Pensions Group

Employee-centric Company

XPS Simply DB | 3

XPS

flexible options

What our clients say

XPS has a whole lot more to offer too. In addition to the core services, there is the flexibility to add further services to your package, as required. These can be incorporated at the outset, or you can add them as and when you need them.

We were impressed with their innovative and joined-up approach. It is clear that they understand our issues and this insight, coupled with their high quality service standards, are ideally tailored to our needs. 2019 XPS client Insight survey

Attendance at additional meetings

Scam identification calls with members

Member existence checks

Mortality screening

Member tracing

More frequent administration reports

Scheme-specific data reports

Advice on reduction to transfer values

More frequent funding updates

More frequent investment reporting

Create and maintain scheme governance documents

Light touch assessment of employer covenant

The implementation of a transition of scheme administration is the most challenging, on account of its complexity, but XPS rose to that challenge and carried out the process efficiently, effectively, diligently and smoothly, in a manner that ensured no disruption or inconvenience to members during the transition and in one that enabled the highest of standards of service level for members to be maintained, going forward. Independent Trustee, The Royal Zoological Society of Scotland, July 2019

At any time, you also have access to our specialist teams to help you with one-off projects. I had no issues. Dealt with very quickly with easy understanding. Excellent service, keep it up. Thank you.

We can offer any number of additional services, but being very conscious of costs we believe it is better to offer a streamlined approach and only charge for these when the need arises. Don Robson XPS Administration

Member feedback, July 2019 Client of Edinburgh office

XPS focus on what we really need given the circumstances we have, and don’t suggest any unnecessary action that could cost the scheme money. 2019 XPS client Insight survey

4 | XPS Pensions Group

XPS Simply DB | 5

About us XPS Pensions Group is the largest pure pensions consultancy in the UK, specialising in actuarial, investment consulting and administration. The XPS Pensions Group business combines expertise, insight and technology to address the needs of more than 1,500 pension schemes and their sponsoring employers on an ongoing and project basis. We undertake pensions administration for over 920,000 members and provide advisory services to schemes of all sizes.

Find out more We’d be delighted to discuss how XPS Simply DB could work for you. If you have any questions or would like a ‘no obligation’ quotation please contact Gerry Devenney, David Dickson, Don Robson, Barry Garner, Sian Pringle or Alasdair Gill.

Gerry Devenney XPS Pensions

David Dickson XPS Pensions

t

0131 370 2594 / 07919 074 133

t

0131 370 2883 / 07483 377 909

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[email protected]

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[email protected]

Don Robson XPS Administration

Barry Garner XPS Administation

t

0191 341 0616 / 07703 495 002

t

01245 673 526 / 07795 658 147

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[email protected]

e

[email protected]

Sian Pringle XPS Investment

Alasdair Gill XPS Investment

t

0131 370 2614

t

0131 370 2618

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[email protected]

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[email protected]

Alternatively, please speak to your usual XPS Pensions Group contact. @xpsgroup

xpspensionsgroup

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Award winning

No. 1 rated TPA

Employee Engagement

Employee-centric Company

© XPS Pensions Group 2020. XPS Pensions Consulting Limited, Registered No. 2459442. XPS Investment Limited, Registered No. 6242672. XPS Pensions Limited, Registered No. 03842603. XPS Administration Limited, Registered No. 9428346. XPS Pensions (RL) Limited, Registered No. 5817049. XPS Pensions (Trigon) Limited, Registered No. 12085392. All registered at: Phoenix House, 1 Station Hill, Reading RG1 1NB. XPS Investment Limited is authorised and regulated by the Financial Conduct Authority for investment and general insurance business (FCA Register No. 528774). This report should not be relied upon for detailed advice. Permission for reproduction of material in this document must be sought in advance of any public domain use.

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