A suite of model buyout communications to help defined benefit (DB) schemes communicate effectively with their members has been launched by Quietroom.

Launched in response to “increasing market need”, the buyout communications toolkit aims to help schemes to meet their communication needs for an affordable fee, whilst also fully meeting regulatory requirements.

The toolkit was tested with members before launch, and was designed to take scheme members through the whole buyout journey – from the first announcement to scheme wind-up.

Quietroom confirmed that the toolkit has also been legally reviewed, and achieve regulatory compliance, meaning that all schemes will need to do is enter their details and get sign-off internally before they send letters to members.

Quietroom lead consultant, Julia Fox, commented: “As more and more schemes have been gearing up for the buyout process, we have had an increasing number of requests to help schemes explain what’s happening clearly to their members.

“The whole industry is expecting 2023 to be busier than ever in the buyout market. So, we developed a set of model communications, fully tested with members, with proven outcomes, to make it easier for schemes to send out top quality communications in a cost-effective way.

“When creating this set of model buyout letters, we were aware which messages were likely to do well, particularly making sure that messages were framed positively and reassured members.

"But we also wanted to be sure that the communications would have the intended effect. So, we took the communications straight to members to get their impressions and test the actions that they might take. We learnt a lot and incorporated that feedback into our revised communications.”

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