In collaboration with our client, Acuvest, using best-in-class design features created and implemented a new Defined Contribution scheme. This included designing the fund options and leading the process for selecting and negotiating ultra-competitive fees with the administrator and fund managers on FBD’s behalf. We also clearly demonstrated how we would provide an oversight going forward to ensure the solution would protect the future interests of all members, and could be communicated in a positive way to employees.
Legal deeds were prepared and approved by both revenue and the pension authority in 8 weeks and the new scheme was up and running within a further 6 weeks. Taking a member-centric approach, the scheme started with five fund options, distinguishable by their objectives and covering the range of most likely member needs. Our solution also included designing and delivering a clear communications plan through a nationwide interactive presentation that demonstrated the best-in-class features of the members’ new DC scheme.