Winner: Finmeccanica UK
Scheme: Finmeccanica FuturePlanner
Entered by: P-Solve
This award recognises an employer that makes a concerted effort to offer an appropriate, effective default investment strategy for a defined contribution (DC) pension plan.
Finmeccanica’s default strategy, which is driven by the organisation’s determination for its DC scheme not to be considered a poor relation to its defined benefit (DB) plan, comprises three diversified blended funds that de-risk employees prior to retirement.
The judges were impressed by the human touch displayed in a video used as part of the communications programme.
The judges said: “This is a thought-provoking entry with a solid governance structure and clear aims. There is a strong focus on corporate objectives for the investment option.”
The winner said: “We aimed to design something unique and innovative to meet the needs of the vast majority of members.”
Martin Flavell, vice-president of HR, Finmeccanica UK
Associated British Foods – Associated British Foods Pension Scheme (entered by AllianceBernstein)
Browne Jacobson LLP – Browne Jacobson LLP Group Flexible Retirement Plan
Click here to read more about the Employee Benefits Awards 2013