Risk transfer. A new era for members.

What is the Marsh Impact team’s risk transfer communications proposition?

We have developed a structured package of member-facing communications specifically for pension schemes going through risk transfer transactions:

Stage 1

Buy-in

Stage 2

Buyout

Stage 3

Wind-up

The package provides trustees with professionally written, regulatory-compliant template communications that can be adapted to the specific circumstances of their scheme.

It is designed to help members understand what is happening, feel reassured about the process, and be confident that their pension benefits are secure.

Why does good member communication matter?

A risk transfer, particularly a buyout and wind-up, is often one of the most significant events in a member’s retirement journey.

For many members, it means moving from a pension scheme associated with their former employer to an insurance company they may never have heard of. This can feel unsettling, particularly for members who are worried their benefits may change or that they will lose out.

Clear, timely, and reassuring communications reduce member anxiety, minimise queries to trustees and administrators, support regulatory compliance, and demonstrate that the trustees have acted in members’ best interests throughout the process. Poor communications, by contrast, can undermine member trust and expose trustees to regulatory scrutiny under the TPR General Code and FCA Consumer Duty.

Who is this package for?

The package is designed for trustees of UK defined benefit pension schemes that are at any stage of the risk transfer journey, whether they are exploring a buy-in, in the process of completing a buyout, or approaching wind-up.

It is also relevant for scheme advisers, including actuaries, lawyers, and investment consultants, who want to understand the communication requirements and ensure they are properly covered for their clients.

What communications are included in the suite?