Spence & Partners, the UK actuaries and consultants, today announced their appointment by Simons Group Limited Pensions & Life Assurance Scheme for their award-winning, fully-integrated approach to DB scheme management – ‘The Spence Approach’. Services to the 450 member, £25 million Scheme will include actuarial, investment and pension scheme administration.
Alan Collins, Head of Trustee Advisory Services at Spence commented: “The Pensions Regulator’s Integrated Risk Management (IRM) guidance encourages trustees to make joined-up decisions around funding, investment and governance. Most schemes face three key issues when trying to do this – systems, data and monitoring. Our Mantle® system allows schemes to make informed decisions around their funding at any point in time, based upon the live administration and investment data. This empowers trustees to be fully responsive to funding opportunities that will benefit the scheme. Ultimately, we are giving trustees and sponsors of all schemes levels of analysis and advice that is usually reserved for schemes with much larger budgets. We firmly believe this will provide trustees and sponsors with the tools to successfully manage their schemes towards an end goal. We are very pleased to be working with Simons Group.”
Michelle Padgham, Commercial Accountant and Trustee at Simons Group commented: “During the appointment process Spence were able to very clearly demonstrate how they will work with us to continue to develop and implement clear long-term strategic objectives. The Spence approach is refreshing, pro-active and has significant advantages compared to other solutions in the market. We are really looking forward to working with Alan and the team at Spence.”