Dalriada Trustees has launched a streamlined consolidation solution for Additional Voluntary Contributions (AVCs), in partnership with Smart Pension, Gowling WLG, and Hymans Robertson.
According to Dalriada Trustees, the new offering is designed to deliver better value and outcomes for members, with significantly lower fees than traditional AVC arrangements, well below the typical 0.75 per cent annual charge cap. It says the solution replaces outdated legacy platforms with modern online tools, clearer communications, and improved retirement options.
The solution also aims to simplify governance for trustees and employers, reducing admin costs, regulatory burdens, and risks, especially around pension dashboards, decumulation rules, and buy-out delays. It works across all schemes where Dalriada is the trustee, offering low-cost benefits no matter the scheme size. Members get access to investment options, flexible ways to take their money at retirement, and extra support like a helpline, online tools, and the option to switch back at retirement.
Gowling WLG partner Maddy Frost says: “We are delighted to have been appointed to support Dalriada on this project. Ultimately, we all do what we do in the DC world with the aim of improving member outcomes and this solution forms an important part of that.”
Hymans Robertson DC platform solutions lead Brenda Kite says: “As a firm we believe that offering value for money and improving member outcomes are the key components of any AVC or DC solution. Working with Gowling, Smart Pension and Dalriada has allowed us to collectively pull together our knowledge to create a viable commercial alternative in the market at a lower cost. We believe that, together, our solution is the most effective way to tackle and meet the gap in the AVC and legacy DC market, and offer the very best for their members. We are delighted to have played a role in this revolutionary solution”.
Smart Pension business development director Gavin Collinson says: “Smart Pension is delighted to partner with Dalriada on the launch of their market-leading small scheme consolidation solution. Our joint focus is on providing better value for members, reducing risk for trustees and employers, and making sure our members enjoy a comfortable retirement. Given the government mandate for DC consolidation, we’re excited about the possibilities for expanding this first-of-its-kind solution. Together, we’re solving many of the issues faced by the AVC market, ultimately helping more and more people save for a better retirement in a way that suits them.”
Dalriada Trustees co-creator of the DCC and Accredited Professional Trustee James Fitzsimmons says: “Trustees have struggled to improve Additional Voluntary Contributions terms and the investment platforms available to their members due to cost barriers, resource constraints, complexity and lack of a viable market, particularly for schemes that can only negotiate in isolation. We believe our new solution will be the most effective way to tackle this problem. By consolidating AVCs into a DC Master Trust, it will significantly reduce member charges, improve member engagement, and reduce the administration and governance burden for DB trustees.”
