UK - Six major UK pension schemes have banded together to produce an ‘A' Day modeller called PensionMentor.
The schemes said the modeller comes at a time when many employers are faced with the need to help their most highly paid executives through the implications of ‘A’ Day - April 6, 2006 - in a way that is cost effective.
The six schemes include USS, Cable & Wireless, Diageo, DMGT, Hunting PLC and Pensions Management (Railways Pension Scheme).
The modeller has been produced in conjunction with communication consultants Anthony Hodges Consulting and actuaries Lane Clark & Peacock.
Colin Busby, communications manager for USS, said: “We were looking for an answer to a short term challenge that’s quite complex without spending a lot. With PensionMentor we recognise we’ll be getting a lot more for our money than we would if we’d done it alone.”
“PensionMentor has been designed to allow an executive to make considerable progress alone and evaluate their ‘A’ Day solution in a way that they will understand,” said Jonathan Camfield, partner at LCP.
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