Broadstone has announced the launch of a new service for smaller schemes, Broadstone100, offering an integrated solution for small to mid-sized defined benefit (DB) pension schemes.

The service brings together all the core actuarial, administration and governance services required to manage a DB scheme within a fixed fee structure.

Core services include full management of member data, benefit statements, actuarial valuations, reporting at trustees’ meetings and advice on all topical issues impacting on the scheme.

Under the service, trustees and sponsoring employers can also opt to include additional services such as treasury, pension payroll, preparation of scheme accounts, company accounting and investment consulting.

In addition to this, specific projects such as guaranteed minimum pension (GMP) equalisation, endgame planning or insurance solutions, can be progressed alongside day-to-day management of the scheme.

Commenting on the launch, Broadstone actuarial director, Andy Thomson, stated: “Running a small or mid-sized DB pension scheme can be immensely challenging given the disproportionately high management time and cost involved.

“Our ability to provide high-quality services via a cost-effective, integrated package streamlines the running of smaller schemes. It will benefit from all the technology we deploy for larger schemes, such as our Sirius modelling and monitoring tool and is delivered by our experienced, expert consultants.”

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