Scheme Performance: Improving Trustee-Employer Communication
Dalriada.Together's® solution improved trustee-employer communication, empowered both parties, achieved full scheme funding, and allowed the employer to focus on priorities confidently.
The Dalriada.Together solution addressed underperforming scheme investments, improved trustee meetings, and rectified the power imbalance between the trustee board and advisers. This transformation empowered the employer and trustees to challenge advisers effectively, eliminating frustration, dissatisfaction, and detachment.
The employer and trustees were not equipped to have worthwhile input into the decision making for the scheme. As a result, the employer became increasingly disengaged as the funding position continued to worsen and they were unable to ascertain how the financial position of the scheme would ever improve.
With many of the trustee board being members of the corporate team there was apprehension with regards to conflicts of interest.
With an adviser review imminent it was considered a good chance to regain control of the scheme governance and the company sought to appoint a professional trustee.
The challenge lay in allowing the employer’s voice to be heard, to ascertain the funding position and align any actions with the long-term goals of the scheme.
Dalriada acknowledged the need for the trustee and the employer to feel that their views were being heard and understood.
The Together solution allowed the employer to control costs with a fixed fee. It gave access to all scheme information to all parties creating an atmosphere of collaboration and a united goal.
Implementing tight governance practices and controls reassured the employer that the scheme is being managed correctly and calmed any fears of reproach from The Pensions Regulator.
Dalriada has been proactive in cultivating a strong relationship with the employer and the company now feels that they have found an appropriate partner.
The employer now feels in control of the scheme’s future with a trustee that is setting the agenda rather than the advisers. Dalriada’s expertise has given the employer confidence that there is close management of costs and the delivery of services.
The trustee and employer now feel that the members have a team of advocates securing the financial future of the scheme.
The scheme is now fully funded with the possibility of buy-out in the mid-term.
The employer can now concentrate on other priorities with the peace of mind that the scheme is moving forward positively.
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Ready to transform your scheme's performance and improve trustee-employer communication? Don't let you pension scheme hinder your financial prospects or limit your organisation's growth. Contact us today to explore the Dalriada.Together solution and experience the benefits of enhanced control, collaboration, and financial security for your scheme's future.