Pensions Advice

Tender description

• Advice on the potential for introducing an alternative pension scheme or schemes for the c500 staff • A detailed account of any potential alternatives including feedback from other employers in the HE sector particularly University of Exeter. • Recommendations on the relative merits and dis-benefits of potential schemes and proposed best fit scheme(s) • Support in implementing any decision that is made to move to offering a new scheme or schemes Important aspects of the review of options are the levels of risk/ cost to FX Plus and relative risks to members of the scheme. Marketplace intelligence regarding any impact on recruitment, retention etc of introducing various solutions is also important. It is understood that this is a highly specialised and technically complex area and in order to be in a position to make decisions FX Plus will need to understand the implications of being an admitted organisation compared to a ‘scheduled body’; whether the Admissions Agreement will make any particular provisions affecting the cessation debt for admitted bodies as opposed to scheduled bodies; what the impact will be for NI payment liability of FX plus and the scheme members and can membership be closed to new members or participation in the scheme be ceased altogether. Overall, FX Plus is looking to explore the balance of risk of any potential solution between the company and the scheme member.