Following the receipt and check of the data about transferring staff from the previous and new employer, we provide information to our actuary to request a mandatory report, which sets out: 

  • a valuation of pension liabilities for the transferred employees
  • a recommendation for the employer’s contribution rate to the fund
  • an assessment of risk reflected by the recommendations for the value of a bond or indemnity

The value of bond or indemnity required to be put in place by the new admission body must be agreed by the outsourcing employer and the fund.

Preliminary report

Upon request, the actuary will prepare a preliminary report to provide an initial assessment of the employer contribution rate and bond or indemnity required. This enables the outsourcing employer to quote estimated pension related costs to tender applicants. This report incurs additional actuarial charges and is provided in addition to the mandatory report which will be prepared when the contract has been confirmed.