Outsourcing Larger Pension Schemes
Should you be outsourcing your in-house pensions function?
Increasingly organisations are looking to focus on their core business and to cut their costs. Outsourcing their pension scheme management is a key area to review and BBS is ideally placed to take over this role.
We will provide a fixed cost solution – almost certain to be less than paying for your own in-house pension department – and less than most competitors with higher overheads.
Our service is guaranteed to deliver best practice quality for Trustees and pension scheme members;
- You will receive a quarterly audit of our services – do you get this from your in-house team?
- Our focus is on maximising pension services for your people – and giving them easy access to their pension information – whilst minimising the cost to the sponsor.
- We are committed to providing:
- Best service - to both the corporate sponsor, Pension Scheme Trustees, and Scheme members;
- Transparent charges;
- Regular (quarterly) audit reports;
- A BBS Director, and named team members, to work with every client;
- The best out-sourced management of corporate pension schemes, with all aspects of pension scheme management handled in the same building under the leadership of a named Director.
If you are a Corporate CEO or FD, concerned about the cost of your in-house pension management department, you will probably consult an adviser (your accountants or one of the big firms of actuaries) – and you will need to engage the trustees of your pension scheme.
Those advisers and trustees will influence who is invited to bid for the outsourcing of your company pension scheme.
We merely ask to be included in that 'bid-list'.
BBS provides best-practice quality standards (crucial for Pension Scheme Trustees), and best value costs (crucial for corporate boardrooms).
You want proof?
BBS stepped in when the national supermarket group Somerfield, needed to find a high-quality, low-cost outsourcing formula for its pension scheme with £500 million in assets and 20,000 members. We arranged a rapid formula to transfer Somerfield’s pension department staff (under TUPE rules), and now deliver top-quality services at fixed-costs.