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Lot 1 - Decumulation expertise, scheme and product design
a. DC decumulation pensions market capability, expertise in
UK market for DC pension provision, specifically in decumulation, and the latest policy, regulatory and industry developments.
b. Capability in UK decumulation pension scheme design that enables the pooling of longevity and other risks, in a money purchase or other legislative/regulatory context.
c. Decumulation product design - capability in all stages of
decumulation product design, from user research, to translating member needs into design principles, detailed product design, and implementation.
Lot 3 - Longevity Analysis and Modelling
a. Longevity modelling and actuarial capability, insight into longevity trends and developments, particularly in the context of the population of pension savers under auto enrolment.
b. Capability in developing actuarial modelling for
decumulation solutions. Knowledge and understanding of appropriate capital market assumptions and longevity trends for
decumulation.
c. Experience of designing decision frameworks and governance approaches to support Trustees in setting and maintaining income levels in decumulation.
| Lot | Title | Value |
|---|---|---|
| 3 | Lot 3 | — |
| Title | Supplier | Value | Awarded |
|---|---|---|---|
| Award 3 | Towers Watson Limited | — | — |
| Award 5 | Towers Watson Limited | — | — |