JLT Employee Benefits – one of the UK’s leading providers of employee benefits services – has adopted RiskFirst’s real-time analytics and reporting platform, PFaroe, enabling another 400+ UK pension schemes to benefit from PFaroe’s analytics. JLT Employee Benefits will use it as a tool to add value to its advisory services, allowing it to provide defined benefit (DB) pension scheme clients with up-to-date funding valuations and real-time scenario testing and risk management advice. Access to the system’s web-based dashboard, showing a snapshot of scheme valuations and risk analysis, will also be rolled-out to all direct DB clients.

Malcolm Reynolds, Managing Director, JLT Employee Benefits, says: “The pensions market has developed rapidly with sponsors and trustees now requiring a much better, and regular, flow of scheme information in order to improve liability and risk management. Without question, this need has become even more important in the low interest rate environment. PFaroe allows us to sit down with clients and explore, in real-time, the impact of varying assumptions and economic conditions on their funding position – and in a way that they can readily understand given the intuitive nature of the system. Ultimately, this will drive more effective de-risking strategies.” 

Matthew Seymour, Managing Director, RiskFirst, comments: “JLT Employee Benefits shares our philosophy when it comes to what constitutes best practice in pension risk management – and we are delighted that they have chosen PFaroe as the tool to help them achieve their objectives. PFaroe is an ever-evolving product and we look forward to working alongside them in order to continue to add value to their service offering in response to further market developments.”

Reynolds adds: “Partnering with RiskFirst allows us to combine our actuarial skills and expertise with their technological leadership and dedication to the maintenance and development of their system – which we think is a very strong proposition for clients, both current and prospective.”