Burger King UK DB scheme enjoys benefits of efficiencies with Enplan
The Burger King DB scheme joined Enplan, Isio and Entrust’s one-stop-shop platform solution for operating DB pension schemes, in 2018.
The sponsor was committed to eliminating the significant scheme deficit but they were looking for more proactive management of the scheme to increase the security of members’ benefits. As a private equity owned business, it was important to them to control costs and to achieve an efficient and risk-managed journey to remove the deficit. Enplan appealed to them owing to its proven track record, its one-stop-shop bundled approach and the high-quality, joined-up teams at Entrust and Isio.
Since joining, Enplan has saved the scheme significant amounts in adviser and fund manager fees and put the scheme on a steady path to full funding and de-risking. Enplan has also helped align the scheme’s ESG position with that of the business and the teams at Entrust and Isio have built up a great working relationship with their CFO.
The Scheme now has full funding in sight, expecting to reach self-sufficiency within the next three to four years. Security of members’ benefits has increased significantly, and the pension scheme is no longer a headache for the business, giving confidence to both current and future shareholders.
We moved our scheme to Enplan in 2018. As a PE-owned business it’s really important to us to run the scheme as efficiently as possible and manage the risks that it exposes the business to. I’m really pleased with the way Entrust and Isio have worked with us since joining Enplan. The scheme feels in a much better place now and we have an excellent working relationship with them.”
CFO, Burger King UK
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