Non-associated multi-employer schemes

We provide provision of actuarial services to employers who participate in non-associated multi-employer schemes. This includes support on actuarial valuations, employer debt and de-risking options.

Rather than running their own scheme a number of employers participate in non-associated multi-employer arrangements. These arrangements are often on a centralised basis with no segregation of assets or liabilities. An example of such an arrangement is TPT Retirement Solutions (formerly called The Pensions Trust).

Participating in a non-associated multi-employer arrangement with non-associated employers can lead to an interesting set of challenges. For example, managing any orphan liabilities that have been built up and dealing with the lack of control over issues like funding, investment and contributions. It is important that the pension costs are properly understood and managed by all employers including charities / not-for-profits (who often participate in these arrangements) to prevent them becoming a major risk to future activities.

The services we can provide to employers in these arrangements include:

• Education on the risks and liabilities facing the employer
• Considering management and mitigation of risks
• Liaising with the pension scheme provider
• Drafting correspondence with members
• Verifying debt calculations
• Considering future benefits including auto-enrolment compliance

Each employer and arrangement requires a different level of support and assistance. The work we have carried out for these employers has ranged from several hundred pounds upwards.

As a result of our experience we are well placed to help employers who participate in non-associated multi-employer pension arrangements.  

We have advised a number of clients in this area including a number of leading independent schools, charities and Housing Associations.

Significant experience

NAMES vary from very large schemes with hundreds or even thousands of employers with no connection, other than their general industry or sector they operate in.  Some of the larger NAMES where we have supported participating employers include:

• Plumbing & Mechanical Services (UK) Industry Pension Scheme
• TPT Retirement Solutions (which itself has a number of sub sections):
  • The Growth Plan
  • Social Housing Pension Scheme “SHPS”
  • Scottish Housing Association Pension Scheme “SHAPS”
  •  Independent Schools Pension Scheme “ISPS”
  • Career Average “CARE”
• Merchant Navy Officers Pension Fund
• Merchant Navy Ratings Pension Fund

Some of medium and smaller arrangements we have supported on include:

• Church Workers Pension Fund
• Milk Pension Fund
• Civil Service Benevolent Fund Pension and Life Assurance Scheme