Osborne Clarke's pensions team has launched the first episode in a series of podcasts designed for trustees and employers who are looking to secure their members' benefits with an insurer.
Destination 2023 is a series of 10 podcasts, in which members of Osborne Clarke's pensions team will be talking to various experts from different areas of the pensions risk-transfer industry. Each episode will focus on a particular area, with discussion of the key issues to be aware of and how best to prepare for and undertake a buy-in and buy-out project.
Episode 1 is an interview with Rosie Fantom, who is Head of Bulk Annuities at Barnett Waddingham. She is interviewed by Osborne Clarke's Head of Pensions Jonathan Hazlett.
Key topics in the first podcast include:
- how to monitor a scheme's buy-out funding level and when to start planning an approach to market;
- steps to take to protect a scheme's buy-out funding level;
- a typical set of transaction objectives;
- information needed when it comes to formally approaching insurers for quotations;
- what a benefit specification is and why it needs to be approved by the scheme's lawyers;
- the level of review and cleansing of a scheme's data required before approaching the market;
- other useful tips for achieving a good transaction outcome.
Jonathan Hazlett: "We are really grateful to have been able to speak with a number of leading experts in the pensions risk transfer industry for these podcasts. They should hopefully be of interest to both trustees and employers who are looking to take advantage of improved scheme funding levels and attractive insurer pricing, with buy-in volumes expected to reach record highs in 2023."
Episode 2 will be an interview with Adolfo Aponte of Cardano about why insurance is seen as the "gold standard" for securing members' benefits. This will follow in two weeks' time.
The Destination 2023 podcasts are aimed primarily at trustees and employers of schemes who are considering purchasing a buy-in policy but may be of interest to anyone advising in the bulk annuity market. You can subscribe to receive notifications about new episodes on your preferred podcasting platform.
About Osborne Clarke's pensions practice:
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 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.
