Pensions Technical Unit (PTU)
Watson Wyatt's Pensions Technical Unit comprises of a team of nine researchers who are responsible for identifying forthcoming changes to pensions legislation and practice, acquiring associated information and documents, analysing and summarising the effect on current practice and disseminating the information to consultants and clients. It produces Watson Wyatt's Pensions News family of client publications, together with its commentaries on the Chancellor's Budget and pre-Budget statements.
Information is acquired from Government officials, daily searches of websites (eg UK Parliament, UK Government departments, UK Courts, European Council, Parliament, Commission, and Court of Justice, Regulatory Bodies, Professional Bodies) and gleaned from perusal of pensions and employment related publications. Members of the PTU serve on committees of professional bodies such as the Institute of Actuaries, Society of Pensions Consultants and Association of Consulting Actuaries. The team also supports other Watson Wyatt associates in their roles on these and other bodies, such as the Pensions Management Institute.
It is responsible for the development and maintenance of the Benefits Grapevine, the primary knowledge-sharing tool within the Retirement Practice. It also contributes material to ClientSite and to the Watson Wyatt website. In addition, the PTU runs briefing sessions for consultants on current topics, provides speakers for Watson Wyatt trustee training courses and for the six-monthly series of Pensions Briefings. Members also speak at industry conferences and seminars, write articles for professional publications and provide background briefings on pensions technical issues for journalists.
The PTU is responsible for coordination of the Benefits practice's responses to Government consultations and also facilitates meetings between clients, Watson Wyatt associates and Government officials to lobby for changes to the legislation and to discuss Government proposals. It provides a helpline service for clients and Watson Wyatt associates on questions relating to pensions practice and regulation and attends meetings with clients to provide advice on such matters or to alert them to current developments.
