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.

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Pension accounting deficits
For companies with a 30 June year end there is likely to be a worsening in balance sheets, with increased pension deficits. This is despite good investment returns in the first half of 2019.
Wednesday, 14 August 2019
Strengthening your Statement of Investment Principles (SIP)
Schemes with 100 or more members are required to have a Statement of Investment Principles (SIP). From 1 October, trustees’ SIPs need to explain how the trustees build long term financial trends into their investment process.
Tuesday, 06 August 2019
lumen - May 2019
This quarter: Climate emergency, GMP Equalisation tax implications, Pensions Dashboard, Annual Funding Statements, and more
Tuesday, 21 May 2019
Funding Deficits
Will April 2019 actuarial valuations bring some light relief to the funding of DB pension schemes? Or will stubborn deficits persist?
Tuesday, 16 April 2019
Great expectations
A classic story by Charles Dickens that is still being read today. Will the Pension Regulator’s 2019 annual funding statement last as long?
Friday, 05 April 2019
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