Discontinuance

The Discontinuance Division of JLT Benefit Solutions Limited (JLT) is based in Bristol and was established in 1996. Due to the technical nature of schemes in wind-up and the risks associated with the finality of the distribution process, JLT operate a discontinuance division staffed by a team which specialise in issues facing schemes in wind-up and PPF assessment. The Division comprises around 50 people including dedicated pension scheme wind-up administrators, consultants, actuaries and an actuarial support team.

Services include:

• Winding-up defined benefit, defined contribution and hybrid schemes
• Provision of actuarial, administration and consulting advice throughout the wind-up process
• Pension Protection Fund assessment services and project management
• Services to schemes qualifying for the Financial Assistance Scheme
• Guaranteed Minimum Pension / contracted-out reconciliation work
• Bulk purchase annuity buy-out co-ordination

Actuarial:

Our Scheme Actuaries are responsible for the provision of actuarial services to Schemes in wind-up.

These include:

• Actuarial valuation work
• Debt certification
• Funding assessment
• Investment advice (non-specific)
• Technical advice

Consulting

Our Consultants are responsible for:

• The delivery of all discontinuance services provided by JLT to the client
• Providing technical consulting advice
• Providing project management and organisational skills
• Providing technical information to clients, members and intermediaries.

Administration

We provide IS0 9001:2000 approved administration services to a range of schemes:

• Small insured schemes
• Large multi-employer self administered schemes

Our administrators work closely with our Scheme Actuaries and Consultants.