Consulting Actuaries

Our views

We regularly issue articles to keep you informed on topical issues affecting your pension scheme. Our recent articles can be viewed below.

If you would like to receive our regular updates, please register now.

2018 - Just like the weather!
The UK equity market has fallen significantly over 2018 and bond markets have generally flat lined. However property and the US equity market have performed well. Meanwhile, corporate bond yields have risen and inflation expectations have remained relatively benign. But, many are faced with an increase in liabilities due to having to address the effect of inequalities caused by Guaranteed Minimum Pensions (GMPs). What does this mean for employers with DB pension schemes?
Thursday, 20 December 2018
lumen - November 2018
This quarter: GMP equalisation; GMP conversion; Refreshed regulator; PPF levy; EU pensions governance and more.
Tuesday, 27 November 2018
GMP conundrum...not quite solved
The High Court recently handed down its judgement in an important pensions case (Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank plc and others), concluding that trustees must adjust scheme benefits for sex-equalisation of Guaranteed Minimum Pensions (GMPs). So, can trustees push on and adjust benefits to address GMP inequalities?
Thursday, 22 November 2018
"Where are you goin' to? Do you know?"
Obviously they have been playing Diana Ross’s 1975 hit in the DWP offices and the chorus above has struck a chord. We don’t yet have very much detail on how DWP or tPR intend to improve the operation of the scheme funding regime - Chapter 2 of the recent DB White Paper. However, one of the ideas outlined was that all employers and trustees should set out an agreed long term funding objective for their scheme. Read on...
Friday, 26 October 2018
lumen - September 2018
This quarter: White paper; Dividend payments; Pension scams; GMP reconciliation; PPF benefits breach EU law; Accounting for pensions and more.
Tuesday, 11 September 2018
Say it with a KISS
“Managing risk” is the latest instalment of The Pensions Regulator’s (TPR) 21st century trusteeship initiative. Identifying risk and having processes to control risk are key aspects of running a pension scheme. You wouldn’t run a business without thinking about risk, so why run your pension scheme any differently?
Monday, 23 July 2018
Are you party to a cash cop-out?
Most members take some tax-free cash when they take their retirement benefits. But how many are aware they may be being misled? How would you feel if you were one of these members? And how would you react if/when you found out?
Tuesday, 26 June 2018
2018 Annual Funding Statement
The fundamental message in the 2018 annual funding statement is - be aware of the risks in your DB pension scheme and actively seek to control them. This means bringing integrated risk management to life.
Wednesday, 06 June 2018
lumen - May 2018
This quarter: the Regulator’s corporate plan; Cyber security; Future mortality improvements; 5 good reasons; Buying dips and more.
Thursday, 24 May 2018
Torchlight in the tunnel!
The long awaited Defined Benefit (DB) White Paper was finally published on 19 March. The government doesn’t have time this decade to do anything about the problems. However it has flashed its torch in a few directions to indicate where it might go.
Thursday, 19 April 2018