Buck Bond Group

Buck launches integrated defined benefit pensions governance solution to enable trustees and sponsors to achieve their long-term objectives quicker and at a lower cost

Digital delivery and award-winning services offer the efficiencies of a master trust whilst allowing trustees and sponsors to retain full control

LONDON, May 11, 2022 – Buckan integrated HR, pensions, and employee benefits consulting, technology, and administration services firm, has today announced the launch of Echelon+, an inclusive approach to defined benefit pensions governance to help protect trustees and sponsors from increasing complexity, enabling them to achieve their long-term objectives with additional certainty.

Delivered through a single fixed annual management charge model, providing exceptional certainty and value, Echelon+ brings together Buck’s award-winning trustee consulting, administration, and technology services, combining the flexibility and independence of a traditional approach with the efficiencies of a master trust. It was developed in consultation with independent trustees and is aimed at schemes looking for prompt decision-making and fee certainty, whilst retaining overall control and enhancing the member experience.

Centralised governance, working alongside bespoke journey planning (including all aspects of funding, investment, data, and GMP equalisation), enables trustees and sponsors to take advantage of economies of scale, whilst retaining control of the future strategic direction of their scheme. Additionally, trustees and sponsors benefit from future-proofed, day-to-day governance automatically, enabling them to concentrate on decisions that accelerate plans to achieve their overall objective.

With a focus on members, Echelon+ includes an online member portal with illustrative transfer values, retirement quotations, newsletters, and enhanced member communications and education.

Echelon+ is powered by Stride™, Buck’s online funding and risk monitoring tool. The newly enhanced version includes a real-time dashboard with access to information on plan governance issues across funding, investment, pensions administration, and progress made against strategic funding and investment objectives.

David Piltz, U.K. Managing Director at Buck, comments:
“There’s been a real focus on consolidation and improving efficiencies in the defined benefit pensions market, especially among smaller and medium-sized schemes, to deal with the growing time and cost pressures of complying with increasing legislation, governance, and journey planning requirements. At Buck, we see a real opportunity in the market to offer a service to trustees and sponsors which provides the benefits, efficiencies, and certainty of consolidation, whilst allowing them to retain control of the key decisions impacting the long-term future of their scheme.

Put simply, through Echelon+, we enable defined benefit pension schemes to reach their objectives quicker, and for a lower cost. We have already seen real interest in this and are looking forward to bringing this solution to a wide range of schemes in the coming months.”

About Buck
Buck is an integrated HR, pensions, and employee benefits consulting, technology, and administration services firm. Founded more than 100 years ago as an actuarial consultancy, we’ve evolved to serve organisations and trustees across the health, wealth, and career spectrum.

With the ultimate goal of securing the futures of our clients’ employees and members, we develop tech-enabled programmes that engage individuals and drive organisational performance. Our award-winning engagement solutions and people-first approach empower the world’s most forward-thinking organisations to protect the physical and financial wellbeing of their employees and members and improve how their people work and live. For more information, visit www.buck.com.

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