Monthly Archives: July 2015

News for week ending 24 July

HMRC confirms the 2016 LTA protections, DWP attempts to explain the relationship between previous periods of contracting-out and the new single-tier State pension and Pearson commits to pay £90 million of the FT sale proceeds into its DB plan.

News_24_July

Tags:

BAE Systems adviser review

Bath Actuarial manages largest scheme actuary review in recent years

Bath Actuarial Consulting was delighted to be chosen by BAE Systems to support the trustees of its UK pension schemes in the process of appointing a single scheme actuary firm across the schemes.

Nigel Tinsley, BAE Systems Pensions Director, commented “We felt that, for such a complex scheme actuary review, we would benefit from the independent and experienced view which Bath Actuarial could bring to the project. We were very pleased with the support they provided, with how smoothly the process went and, of course, with the end result, which was Hymans Robertson being appointed across all of our schemes.”

Leonard Bowman, Director of Bath Actuarial explained “Adviser review projects can often take up far too much of the in-house pension team’s time, which is why external support and the efficient use of technology can make a real difference. Our aim in helping to manage the tender process was to keep the disruption to BAE Systems day-to-day pension operations to the absolute minimum.”

For further information and expert comment, please contact Leonard Bowman.

Tags:

Pensions Arena July 2015

July’s Pensions Arena contains all the usual financial and investment analysis for the quarter ending 30 June 2015, presented in the BAC Dashboard.

This quarter we also include an extract from our recent BAC Briefing ‘Beginner’s guide to reviewing advisers’. Whether it is driven by a desire for good governance, concerns about fee levels or poor quality service, carrying out a formal review of scheme advisers is becoming increasingly common. For good governance reasons and to keep your adviser relationship fresh and innovative, schemes should carry out a formal adviser review at least once every 5 to 6 years. However, more fundamental issues can arise with the adviser relationship over shorter timeframes, which could also trigger a review. In this article, we set out some of the principles you should apply when carrying out such a review.

Pensions_Arena_July_2015

Tags: ,

News for week ending 17 July

The Summer Finance Bill clarifies treatment of 2015/16 annual allowance, the DWP publishes end of contracting-out regulations, whilst CPI inflation falls back to zero.

News_17_July

Tags:

Beginner’s guide to reviewing advisers

Whether it is driven by a desire for good governance, concerns about fee levels or poor quality service, carrying out a formal review of scheme advisers is becoming increasingly common.

For good governance reasons and to keep your adviser relationship fresh and innovative, schemes should carry out a formal adviser review at least once every 5 to 6 years. However, more fundamental issues can arise with the adviser relationship over shorter timeframes, which could also trigger a review. In this BAC Briefing we set out some of the principles you should apply when carrying out a review.

Reviewing_Advisers_Beginners_Guide

Tags: