2012 valuations – save a seat at the negotiating table for the regulator
Pensions Week, August 2012 by Andrew Udale-Smith
The Pensions Regulator held a largely unnoticed webinar in June 2012 in which its senior actuaries introduced some potentially far-reaching changes in its approach to supervising funding valuations…
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Today sees the launch of a new and independent actuarial consulting firm.
Bath Actuarial Consulting (bac) brings a fresh approach to what is a traditional market place. It specialises in providing leading-edge pensions advice solely to companies.
The founders of this new firm are Leonard Bowman and Andrew Udale-Smith, two senior actuaries who between them have more than 40 years’ experience with the “big 3” global actuarial consultancies. They have advised FTSE 100 companies and other large multinationals with pension plan assets in excess of £30 billion.
Their starting point was to commission independent market research amongst finance and pension directors and it was this which provided the blueprint for the creation of the new firm.
As Leonard Bowman explains “The results of the market research helped clarify where and how we need to be different. We are aiming to fundamentally change the corporate experience of working with pension actuaries, through a different kind of relationship which puts our clients in control. That involves equipping our clients with the capability they need to a far greater extent than is currently available in the market, as well as operating a transparent, and wherever possible fixed, fee structure.”
16 May 2012