Scheme review and design

DB pension schemes can become inefficient and costly

Defined benefit pension schemes that at one stage aligned with the business in a cost-effective way, can over time become inefficient, inappropriate and costly.

It makes sound business sense to carry out regular reviews of your pension arrangements, making sure they remain fit for purpose.

How can First Actuarial help?

Our benefit review highlights potential problems, and sets out possible changes along with a process to put them in place. We draw on our extensive experience to work out what is feasible, and how easy or difficult any changes will be.

Where substantial changes are required, we can provide a full range of options, including cash balance, collective defined contribution and defined contribution plans. We have knowledge and experience of all types of pension scheme and can guide you to the right scheme type or design for your needs.

We’ll then help you get from your current position to the new arrangement cost-effectively, and with minimum disruption.

Why choose First Actuarial?

Our consultants are highly experienced at proposing change, whether to a board of directors or scheme members. We use our ModelScheme software to show you projections of future scheme developments under different benefit structures. This is a useful tool for evaluating your options, and the charts it generates are persuasive.

If you decide to modify your scheme, our consultants will support you in making changes quickly and efficiently. We offer vast experience of negotiating with trustees and communicating changes to scheme members.

Get in touch

Get in touch with one of our consultants to discuss how we can help you

Having recently appointed First Actuarial, we have, within a short period of time, reviewed and assessed all aspects of our Company’s pension fund. We have been most impressed with their efficient, professional approach and would have no hesitation in recommending their services to any potential customer.

- David Brunton, Managing Director

First Actuarial case studies

The Kennel Club

Concerned about the risk of an Employer contribution increase as a result of high liabilities, Trustees of the Kennel Club Pension Fund turned to First Actuarial.

“They’re extremely professional and helpful. Their input always seems sound, logical and well presented. First Actuarial handled the transition well, they provide us with helpful guidance, and have delivered what they promised when they pitched for the work.”


Royal Mail

The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.

“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”



As a result of an unusual clause in their trust deeds, Trustees of the pension scheme sponsored by the Society of British Aerospace Companies (SBAC) funded their liabilities on a buy-out basis.

“First Actuarial are very proactive. They respond quickly and get things done. They have proved to be competent and conscientious, and have a very professional and personable approach to business relations.”

See all our case studies
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