Defined Benefit Pension Schemes

Often described as Final Salary schemes, in recent years there are serious concerns around the long term funding of these schemes.  The following are some statistics on the DB market in Ireland.

Total value of DB scheme assets at 31/12/2011 was 45.8bn – IAPF Investment Survey 2011

  • The Pensions Board annual report for year end 31/12/2011 indicates that there are 993 schemes subject to the funding standard with 197,177 members.
  • Around 50% are subject to the funding standard
  • 80% of DB schemes fail the minimum funding standard

BalanceEmployers and Trustees of schemes may be concerned about the long term outcome for their scheme and want independent advice regarding the options available and possible solutions.

For smaller schemes, this can be a difficult task and in particular understanding the legal framework within which DB schemes operate.

Our competency is to help employers understand the options and we can act as a link between the employer and trustee.  Defined Benefit Schemes can be technically difficult to understand and it is in this area that we can assist employers.

We specialise in smaller schemes and partner where necessary for legal and actuarial services.

For Pension Advice: Contact Future