Osborne Clarke's pensions team has launched Destination: Your Buy-in Evaluation, a new online tool which allows trustees and employers to assess their scheme's preparedness for approaching the bulk annuity insurance market.
Developed in collaboration with our legal technology specialists, Osborne Clarke Solutions, the online tool is simple, quick and free for clients to use. The user answers 25 multiple choice questions and can see the relevance of their answers whilst working through the online tool. On completion, they will be provided with a document setting out their scheme's percentage preparedness and recommendations across five key areas: (1) Funding; (2) Investment; (3) Benefits; (4) Data; and (5) Governance.
The product initiative was driven by Osborne Clarke's Head of Pensions, Jonathan Hazlett, together with lawyers Lee Colgate and Tobias Hole.
"This innovative online tool demonstrates our expertise and understanding of the market"
Jonathan Hazlett said: "This innovative online tool demonstrates our expertise and understanding of the market. As buy-in volumes are set to reach record highs in 2023 and beyond, we hope that both our existing and prospective clients will find this unique product helpful when considering and preparing to approach the bulk annuity market."
In April 2023, the Osborne Clarke pensions team launched their Destination 2023 podcast series, in which members of the team have been talking to various experts from different areas of the pensions risk-transfer industry about how best to prepare for and undertake a buy-in and buy-out project.
Ranked as a top tier firm by legal directories including the Legal 500 and Chambers UK, Osborne Clarke's pensions team advises on all aspects of pensions law on both the trustee and employer side, including benefit changes, scheme closures, compliance, trustee training, restructuring, High Court litigation and member complaint resolution. The team also offers a full range of dispute resolution services for pension scheme trustees and employers and pension providers in the UK.
Osborne Clarke's pensions practice comprises seven partners, 20 lawyers and six specialist support staff. Its pensions clients range from billion-pound schemes such as Transport for London, Imperial Tobacco and BAE Systems, right down to schemes with assets of several million pounds.
