Spence & Partners have been appointed by the Hayman Limited Retirement Benefits Scheme to provide fully integrated defined benefit scheme management.

“The ability to adapt quickly to funding changes in the scheme is an important requirement for us, as we continue to work closely towards our funding goal," said Christopher Hayman – trustee of the Hayman Retirement Benefit Scheme. 

"A quality administration service, combined with live actuarial information, was a major factor in the decision to appoint Spence. Spence’s approach to setting a coherent strategy based on a clear understanding of the circumstances of the employer and regular monitoring was attractive to the Trustee board.”

Mattioli Woods provides consultancy and investment services to the scheme and recommended the appointment of Spence.

“Data and information quality are absolutely key for companies and trustees looking to get a real handle on the funding position of the scheme," said James Bolton of Mattioli Woods, who managed the appointment process. 

"Spence were able to strongly demonstrate the criteria set out at the beginning of the process – namely that a bespoke and responsive service could be provided which utilised the benefits of modern actuarial techniques, which are crucial for developing and monitoring a scheme’s funding strategy.”

“We understand that the trustees want to set clear objectives, co-ordinate all scheme activity towards the realisation of those goals and then have the ability to easily monitor and understand any changes in their funding position over time," said Gillian Lister, consultant at Spence.

Spence's integrated technology platform uses live administration data to calculate actuarial results every day.