Gissings launches defined benefit (DB) pension service

Gissings Consultancy Services has launched a new defined benefit (DB) pension service designed to remove consulting fees.

In partnership with Norwich Union and Aviva Investors, Gissings will provide qualifying schemes access to innovative consulting, strong investment products and active account management, while at the same time removing the ongoing burden of consulting fees.

Any scheme can take advantage of the service called DB Select but it is primarily suited to DB schemes with a fund value of between £10m and £50m.

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Andrew Dawson, sales and marketing director at Gissings, said: “Gissings is responding to the effects of the credit crunch by helping sponsors and trustees of smaller schemes. We are delighted to have developed DB Select as an innovative cost reduction solution.

“We are also extremely pleased to be working in partnership with Norwich Union, the UK’s biggest insurance group and one of the leading providers of life and pensions products in Europe.”