Business Continuity Planning for Covid-19. Learn more Logo link to homepage Search Manage your pension Menu toggle Liability management SERVICES FOR EMPLOYERS Alternative benefit formats Defined benefit pension schemes provide member benefits in a prescribed format covering pension, tax-free cash, pension escalation and spouse's benefits. Whilst this approach will suit the vast majority of members it may be less attractive or unsuitable for others. In these circumstances members may want to consider alternative benefit formats such as: Trivial benefits – would members prefer small pension benefits converted to lump sum amounts? Pension increase exchange – some schemes provide pensions which increase at levels above statutory levels. It may be more attractive to convert part of that future escalation for a higher initial pension. Early retirements – members may want all or part of their benefits paid at a date earlier than the scheme retirement age. Transfer values – this allows members to take their scheme transfer value and purchase a pension in a completely different format which may better suit their personal circumstances. Our process evaluates the impact of these revisions and targets any employer spend where it has the maximum benefit. Our market leading member engagement tools mean that offers of this type can reach members in a format that engages them. This includes our unique member app which can provide all the information members need - literally in the palm of their hand. Find out more about our liability management service For an initial discussion please contact David Davison, Head of Corporate Advisory. Name Name Scheme name Scheme name Preferred contact detail Preferred contact details Enquiry Enquiry Consent for storing submitted data Yes, I give permission to store and process my data Please tick Submit OUR SERVICES TO EMPLOYERS Pension accounting Figures you can trust Scheme accounting Actuarial Advice An end to uncertainty Actuarial Investment Unparalleled investment strategy setting framework Investment Re-structuring Distressed employers have a number of options when it comes to their defined benefit pension obligations. Restructuring Defined Contribution Schemes Our defined contribution advisory practice delivers better member outcomes DC schemes Unsure which service you require? Get in touch and we can pass it to the right department. Contact us OUR ACCREDITATIONS Any questions about our services? Please contact us and we will get back to you. Contact us View our LinkedIn profile Read our Tweets Watch our Videos Like us on Facebook Home Awards and accreditations Careers Resources Regulation COVID-19 Privacy Policy Cookie Policy © 2021 Spence & Partners Ltd. All Rights Reserved. Cookie Control Your choice regarding cookies on this site We use cookies to optimise site functionality and give you the best possible experience. I Accept I Do Not Accept Settings