Bell provides actuarial retirement advisory services. Together we add value to your pension fund, company or works council in a clear and intelligent way.’
Bell disposes of actuarial knowledge and skills to offer solutions for all complex actuarial issues.
With our innovative software and refreshing approach we are able to supply our clients with bespoke solutions. Our actuarial services add value for pension funds, companies and works councils.
Do you want to know how you can set up your actuarial annual cycle in an intelligent way? Are you looking for a new pension administrator? Do you need guidance in the transition to the new pension system? We can be of service to you throughout the entire process, from assessing your question to communicating the solution.
We assist our clients in developing and communicating their pension policy.
Our pension policy advice is based on your objectives. We take ample time to get familiar with these objectives and to fully comprehend one another. Subsequently we will convert your objectives into concrete policy choices.
Examples of our services are:
- Design, redesign and harmonisation of pension schemes
- Selection of a pension provider
- Consultation with works councils and unions
Bell provides insight into the differences and similarities of the DC products on the market.
As an employer you want your pension scheme to suit the corporate culture and other employment conditions. For employees it is important to understand the available options, in order to make informed decisions about their pension investments.
Bell assists employers, works councils and pension funds to reach an optimal pension scheme based on the available pension budget. With our detailed knowledge of the DC market, we then give you well-founded advice on the pension provider that best suits your requirements and wishes. With clear communication about the chosen product, we ensure together with you that your employees appreciate the investment made.
Works Council advice
Employee participation is important. Bell looks after the interests of works councils.
If an employer wants to change the pension scheme, or switch to another pension provider, the consent of the Works Council is required. However, pension matters are difficult, while the financial interests are high. As a works council you are expected to promote the interests of the employees, and also to involve the interests of the company in your decision-making. This is anything but an easy task.
Bell has a lot of experience in consultation processes between employers and employee participation, negotiations with pension providers and pension communication with employees. Because we also advise employers, we know which arguments and objectives are important to them. With this knowledge, we can optimally help you to strengthen your position at the negotiating table. We enable you to present your views with a clear vision to both the employer and the employees you represent.
Bell not only advises works councils. Other forms of participation, such as staff representative bodies and trade unions, also belong to our clients.
Cost benchmark for pension funds
We meet the needs of pension funds with the complete, market-wide Bell Cost Benchmark.
We meet the needs of pension funds with the complete, market-wide Bell Cost Benchmark.
Our Bell Cost Benchmark gives pension funds insight into the returns and costs per asset class, compared to representative peer groups.
Participation in the Bell Cost Benchmark costs € 795 excluding VAT. Collecting and delivering the data takes less than fifteen minutes of your time. In October you will receive the benchmark report specifically produced for your fund. You will also receive our annual research report with an overview of the entire sector.
Click here to view an example of our benchmark report, previously released under the name LCP.
More information and registration
Download the registration form here .
During the ALM project we work together with the pension fund board to manage the various pension risks, whereby the interests of all stakeholders is taken into consideration.
The objective of Asset Liability Management (ALM) is obtaining insight in the possible financial developments and risks of a pension fund, and with that finding the optimal investment policy. ignificant risk variables are for instance the probability of underfunding, the probability that indexations cannot be paid (in full) and the probability that the uniform contribution rate appears to be insufficient for the aspired pension accrual.
ALM quantifies these risks and shows under which circumstances they manifest themselves. You will be provided insight in the possible consequences of choices regarding the policies of contributions, indexations and strategic investment.
We see ALM as a process that is jointly established with the pension fund. In our experience the board management gains better insight in the cohesion of the various risks of the pension fund by this interaction. Through our unique approach the ALM study is a major contributor to a consistent and sound long-term policy.
Bell clearly reports the valuation of your pension liabilities for the financial statements.
International accounting standards require companies to recognise a provision for certain employee benefits in the financial statements. The assumptions used in determining the amount of these liabilities are key in this respect.
Together, we determine which assumptions are important to your organisation, to ensure the best way forward is selected in accordance with regulations. Once these have been agreed with the accountant, we provide a clear and comprehensive report.
We focus on advising our clients in accordance with the IFRS, US GAAP and UK GAAP regulations. Bell can also assist with other local accountancy regulations such as Canadian GAAP or Swedish GAAP.
Bell works for international companies and is familiar with the specific needs that arise from an international context.
Through the global MGAC network, we have access to the necessary local and international expertise. With this knowledge, we can solve international pension issues. You can therefore have all the information you need through one contact person. Examples of this are:
- We assist international parent companies in setting up a pension scheme and other income provisions for their Dutch branch, and vice versa.
- In mergers and acquisitions, we provide extensive risk analyses with regard to the pension commitments.
- For the annual accounts, we take care of the valuation of your pension liabilities and, if required, the consolidation as well.
- By setting up multinational pooling, we can help multinationals to reduce pension costs.
Mergers & Acquisitions
Bell provides insight into the pension liabilities and financial risks in mergers and acquisitions.
We work for both acquiring and selling parties. As a buyer, you want to attune your offer to the pension liabilities you are taking over and the associated risks. A seller will want to identify the possibilities of reducing pension risks himself, in order to prevent the pension obligations from making negotiations unnecessarily difficult. We provide a clear overview of the situation and advise you on the steps and decisions to be taken.
Bell offers a structured approach to making a liquidation process a success.
Based on our experience with the liquidation of company pension funds, we have drawn up a plan to ensure that all essential steps in the liquidation process are addressed in good time. Close cooperation between the employer and the fund board is important, with the fund board being responsible for the settlement of the existing pension obligations and the employer for setting up the new way of administrating the pension scheme.
We help you with:
- feasibility studies and indentifying triggers to proceed to action
- preparing the pension fund for a possible (partial) transfer to another pension provider
- the choice between maintaining or surrendering a BPF dispensation
- drawing up proposals, assessing offers and the required negotiation
- analysis of the financial impact on cash flow, funding ratio and the effect on pension obligations in the annual reporting accounts of the company
Bell adds value to your pension scheme through clear communication.
The employer’s contribution to the pension scheme is high, but often not visible to employees. Research shows that most employees are not aware of the contents of their pension scheme. Clear communication is essential if you want your employees to appreciate the investment made.
Bell helps pension funds, employers and works councils with their communications. Clear communication characterises our working method.
Examples of pension communication that we provide are:
- delivering presentations to your participants
- conducting individual pension insight talks with your employees
- providing texts for newsletters and your website
- drafting easy to understand pension brochures
Bell provides education and training to enhance your knowledge of pensions.
The Dutch Pensions Act makes high demands on expertise and social responsibility. Pension fund management need extensive pension knowledge and must have the necessary competencies to perform their task well. HR is expected to be able to explain the pension scheme to employees. A Works Council need sufficient pension knowledge to be a fully-fledged discussion partner of the employer. We offer a tailor-made pension training for all parties involved. Please contact us for the possibilities.
• We offer training to pension fund board members and members of accountability bodies based on the final attainment levels A (expertise combined with the right competencies and professional conduct). We can also provide training courses in sub-areas for the various pension fund bodies, at levels A and B, for example on the Financial Assessment Framework, Asset Liability Management or integral risk management.
• For HR departments we run the incompany training course “Insight into pensions”, which addresses the most important pension questions for HR professionals.
• For works councils we offer the course ‘Pension and works council’.