Buck Bond Group

Use technology to improve the member experience

Provide your members with on demand access to their online illustrative transfer values and reduce administrative costs for your plan.

Are you doing enough to support your members in making informed defined benefits choices?

Put your members in control with immediate access to illustrative transfer values

Defined benefit (DB) pension scheme members have a range of options when it comes to taking their benefits. This means that members often seek detailed information about the value of their benefits, which can be a complex process.

Our online illustrative transfer values, available through Buck’s bEngaged portal, give scheme members instant access to the value of their benefits. This not only reduces your costs but enhances their user experience, delivering an efficient and effective solution for both you and your members.

  • Proactive member support to help them make the right choices for their DB benefits
  • Instant access and display of results
  • Values updated in accordance with scheme rules (monthly, quarterly, etc.)

What sets us apart

Cost effective

Typically, industry processes have been either manual (meaning each calculation is performed by actuaries), or complex and expensive to automate. Our online illustrative transfer value solution changes this, offering calculation and delivery options that reduce the overall cost of providing these services to your members.

Flexibility for members

Once our online illustrative transfer value solution has been launched, your members will be able to change their address and upload Expression of Wish forms directly to our portal, helping them take more ownership of their pension management.

On-demand access

Pension scheme members can instantly access the value of their benefits online through our bEngaged member portal, as opposed to waiting up to three months for manual calculations to be completed and sent by post.

Increased member engagement

The decisions a pension scheme member makes at retirement are some of the most significant they’ll make in their lifetime. We know the difference that can be made to people’s lives when they truly understand and take an active role in structuring their retirement plan. Our solution provides members with information and tools to best help them make more informed choices.

We’re here to help you

Online illustrative transfer values in action: Financial services pension scheme

Previously paying a fee for each transfer value calculated, ~100 transfer values a year, with a delay between request and provision of value

Launched online illustrative transfer values, providing 700 values per month, instantly available to members

Client achieved >25% annual cost saving; members now using Buck’s bEngaged portal as opposed to requesting statutory transfer values

Contact us about online transfer values for your scheme

Resources

For additional insights on our broader pensions expertise, check out our latest thinking.

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FYI

Restricting the statutory right to transfer

Read more : Restricting the statutory right to transfer

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Providing pension scheme members with access to a financial adviser

Read more : Providing pension scheme members with access to a financial adviser

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The Pensions Regulator’s guidance on moving to a DB superfund

Read more : The Pensions Regulator’s guidance on moving to a DB superfund

Blog

Clearer, quicker, tougher

Read more : Clearer, quicker, tougher

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Defined benefit pension schemes transfer market review

Read more : Defined benefit pension schemes transfer market review

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COVID-19 – Pensions Regulator publishes DB transfers warning

Read more : COVID-19 – Pensions Regulator publishes DB transfers warning