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See all the news storiesA final salary pension scheme can be an excellent way to reward and retain your people, but it does have its downsides.
If you provide final-salary (also called defined benefit) pension schemes for your current or previous employees, you may find the mandatory actuarial review process declares your pension fund is in deficit, meaning that the expected future liabilities will exceed the value of the fund. This will require you to negotiate with the trustees of the pension fund and the pension fund regulators to resolve the situation.
One way of eliminating that actuarial deficit is to provide a guarantee or bond for an agreed period, pending additional funding being made.
Bonds also have a role to play in pensions for employees who were previously employed by local government but whose organisation has transferred into the private sector. The new employer would be required to post a local government pension bond.
Large Private Sector Employers with final salary pension schemes
Contractors or Charities providing outsourcing solutions to local governments
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Manage your insurance costs more effectively with the support of our tailored bonds.
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Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
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