Empowering the decision

Strategic decision making is greatly improved where solid information is available. Third party specialists support this using their expertise and experience. They can provide a blend of metrics, insight and opinion to help the decision-making process.

Stakeholder considerations

Stakeholders for pension scheme strategy are typically the Trustee Board. Corporate boards and their senior managers may also be involved. Projects involving areas like Flex Benefits and Master Trusts may be solely corporate decisions strategically but Trustees will need to participate, particularly if pensions are changing.
No matter who is seeking to make a decision, it is important to ensure they are correctly informed. Strong data, expert assessments, and objective opinion are key contributors to the process.

Downstream impact planning

Assessing the impact of high-level decisions can be challenging. This is especially the case where once-in-a-lifetime decisions take place as there may be little or no experience on the decision-making body. Foresight and insight can help tremendously – whether influencing the decision or constructing an action plan after the event.

Scheme trajectory

It is of course important to consider the scheme trajectory. Those on a buy-out pathway may well make different decisions to similar schemes operating on a continuing basis.
When considering certain exercises, for example around de-risking, it is important to acknowledge how much foresight is required – lead time may be needed to get a robust plan in place.