Case Study: Delivering Trustee Objectives

During 2021 Pegasus was appointed as Project Manager by the Trustee of two DB schemes (combined assets £1.7bn) to complete a full buy-in. Complications were a requirement for a scheme merger before the transaction, and the allocation of a small surplus.

Target for completion was 11 months – a very challenging timescale.

The project involved careful management of multiple workstreams, across administration, legal, actuarial and investment.

This included identifying an appropriate insurer and rearranging the existing portfolio over a period of months.

One feature was delegation of certain decisions across the project, within a strong control environment. This meant that the project was completed on time alongside all other workstreams.