The outcome of your readiness check is a preferred pension solution. Before being able to implement the solution, you will need to obtain consent from your employee representatives. Fine-tuning your initial design may be needed when considering updated economic, administrative developments or aligning with other employee benefits and your rewards strategy.
WTW can help you fully prepare for these negotiations! We will partner with you to perfect the solution, obtain all necessary buy-in from internal stakeholders and, define your negotiation strategy towards employee representatives.
The transition to a new pension solution can be very technical, and involves actuarial analysis in some parts. At WTW, we will partner with you to ensure the best possible support required is given to help you with employee negotiations. Our years of experience will ensure you achieve the best possible results.
A key part of your pension solution is to decide who is going to execute it for you. in most cases, this is a decision that requires consent from your employees. We can support you in finding the best provider that suits your needs. Steps in this process are:
- Step 1: Inventory current situation and client specific needs
- Step 2: Provider selection process (prepare short list providers, requesting proposals, negotiations with providers, provider pitches)
- Step 3: Consent process (see phase 3)
- Step 4: Review legal documents and implementation.
Our team are here to answer any queries. for more information on how we can support you on this journey, please complete the form on the right, or below on a mobile device.
