We were appointed by a leading global drinks brand and the trustees of the existing DC Scheme to help lead the selection of an appropriate Master Trust. The company and trustees set up a Joint Working Group to oversee the DC changes, alongside a number of adviser reviews for the DB and DC Scheme, also co-ordinated by Ross Trustees. We initially worked with members of the Joint Working Group to understand their drivers for wanting to move to a Master Trust. We carried out a simple, efficient needs’ analysis to fully understand the key areas of focus for the review, so we could draw up a list of suitable providers and clearly articulate scope and requirements. . We also put together a clear project plan to outline all of the steps and the time commitments that would be required by the members of the Joint Working Group, so it could be planned into their busy diaries and a transition plan which considered any interdependencies with the ongoing adviser reviews.
We approached the market and received five attractive proposals and evaluated these on behalf of the Joint Working Group using a balanced scorecard. Three providers were recommended and then selected to present. Following a successful selection day facilitated by the Ross Trustees team, a preferred provider was agreed. Due to the success of the process, the Ross Trustees team have been retained to assist the Joint Working Group with the implementation of the new Master Trust for existing employees and work with the relevant advisers and providers, to ensure the smooth transition of DC assets from the existing DC scheme. The Ross Trustees team brought extensive experience with both in-house pension management and DC consultancy backgrounds, to deliver an outcome that was well received by the client.
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