Consulting Actuaries

2017

We regularly issue articles to keep you informed on topical issues affecting your pension scheme. Our articles from 2017 can be viewed below.

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Actuarial shock! Company pension costs have probably improved
Overseas equity markets are likely to give double digit returns over 2017, with UK equity markets not far behind. Meanwhile the main drivers of pension costs; corporate bond yields and inflation expectations have been relatively benign. What does this mean for employers with DB pension schemes?
Monday, 18 December 2017
Cyber-crime - are you a target?
Cyber-crime is happening! Stories about hackers accessing personal data and data being sold by unscrupulous employees are reported regularly in the press. The Pensions Regulator views cyber-security as a significant emerging risk for trustees.
Monday, 23 October 2017
Pension transfers - Problem or opportunity?
Prompted by concerns that there may be too many “ill-informed” DB transfers, the FCA has published proposals to make things better. As a trustee or employer, should you be concerned by the current volume of transfers, or could it be an opportunity for you?
Tuesday, 26 September 2017
Equality for all
A recent Supreme Court judgement ruled that same-sex spouses must get the same pension rights as opposite-sex spouses.
Thursday, 07 September 2017
Climate Change – the future looks cosy
A low carbon economy is just round the corner, how will your pension scheme cope with the changes this will bring?
Monday, 14 August 2017
Doughnuts or balance sheets?
As anyone who has watched The Simpsons over the last 20 years will know, Homer has much more interest in doughnuts than in financial balance sheets. In fact Homer has no interest in financial matters. So what is the relevance of this for defined benefit (DB) pension schemes? Read on…..
Thursday, 06 July 2017
2017 Annual Funding Statement
The Pensions Regulator (tPR) recently published its annual funding statement on 2017 valuations. The key message is largely unchanged from last year - tPR expect the majority of employers to be able to manage the increased deficits arising. However there are also some warnings.
Tuesday, 13 June 2017
Paying your fair share
The PPF is consulting on the framework for calculating PPF levies for the next three years (2018 to 2020). Their consultation highlights that employers of large schemes have been underpaying to the tune of £100m each year. The PPF needs to raise a certain amount each year from levies, so guess who has been picking up this £100m tab, other levy payers!
Tuesday, 23 May 2017
Funding deficits - an update
2014 was a relatively difficult year for many involved in negotiating contribution requirements flowing from an April 2014 actuarial valuation. Over the 3 years since then investment markets have performed well. So is the position likely to have improved for April 2017 valuations?
Wednesday, 26 April 2017
Superfunds - a free lunch?
Superfunds are being proposed by the PLSA as a solution to the UK’s DB pension problem. Clearly the PLSA have the government’s ear since the current DB Green Paper devotes 10 pages to them. So what are Superfunds? Will they cure the DB pension problem?
Monday, 10 April 2017
The GMP zombie awakes!
Just when we thought it was dead, the DWP has resurrected the spectre of GMP (Guaranteed Minimum Pension) equalisation. They have put forward a revised approach to resolve the issue. So what are they now proposing? Are there sufficient safeguards for trustees?
Tuesday, 28 February 2017
Lies, damn lies & preconceived ideas
In recent months there has been media comment that small pension schemes are more expensive to run than large schemes. Hence small schemes should be consolidated – the standard “bigger is better” mantra. We thought that we should put this preconceived idea to the test.
Tuesday, 31 January 2017
DB promises, promises
There is increasing comment about the mounting burden of DB liabilities diverting corporate cash flows away from investment in their companies. The government is looking at how to prevent this from undermining UK plc. Read Neil Walton’s opinion on this matter.
Wednesday, 11 January 2017