2011 News

Barnett Waddingham comments on today's Public Sector Statement
December 2011
Commenting on today’s public sector pensions statement from Danny Alexander, Graeme Muir , partner and head of Public Sector Practice at actuaries Barnett Waddingham said: “Danny Alexander’s statement...

UK Government's consultation paper on its proposed approach to implementing the European Court of Justice’s EU Gender Directive ruling
December 2011
On the 8 December 2011, the UK Government published a consultation paper on its proposed approach to implementing the European Court of Justice’s EU Gender Directive ruling into law and its views on h...

Malcolm McLean comments on Governments intention to extend the trivial pensions rules
December 2011
Commenting on the Government’s recent announcement of its intention to extend the trivial pensions rules to cover small personal pension pots, Barnett Waddingham consultant, Malcolm McLean , said: “Cu...

Malcolm McLean speaks at the NAPF Scottish Group Event
December 2011
Speaking at the National Association of Pension Funds Scottish Group Event in Edinburgh today, Barnett Waddingham consultant Malcolm McLean commended the Coalition Government for all the pension refor...

Barnett Waddingham comments on Sunday Telegraph Auto-Enrolment delay article
November 2011
Malcolm McLean , a consultant at the pensions actuaries and consultants Barnett Waddingham, commenting on the Sunday Telegraph article that an indefinite delay on auto-enrolment for pensions for any f...

Barnett Waddingham comments on delays to auto-enrolment
November 2011
Following today’s announcement that there will be changes to the auto-enrolment timetable for firms with fewer than 50 employees, Malcolm McLean , a consultant at the pensions actuaries and consultant...

Essex County Council appoints Barnett Waddingham to advise on its pension scheme
November 2011
Essex County Council has appointed Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, to advise on its pension scheme. Essex County Council administers a pension fund ...

Barnett Waddingham announces seminars on the Impact of Pension Schemes on UK Business for November 2011
November 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries and consultants, has announced a series of free nationwide seminars on the ‘Impact of Pension Schemes on UK Business’ to be held in N...

Comments on the revised proposals the Government has made for public sector pensions
November 2011
Commenting on the revised proposals the Government has made for public sector pensions, Graeme Muir , Partner at Barnett Waddingham, said: “We now seem to be back to a 60th accrual rate from the origi...

Malcolm McLean comments on State Pension Age delay
October 2011
Commenting on today’s Government announcement that its plans to raise the state pension age to 66 in 2020 will be delayed by 6 months, Barnett Waddingham Consultant Malcolm McLean says: “This is unlik...

Barnett Waddingham Partner appointed as Chairman of Association of Member-Directed Pension Schemes
October 2011
Andrew Roberts , Partner at Barnett Waddingham LLP, has been appointed as the new chairman of the Association of Member-Directed Pension Schemes ( AMPS ), the trade body for SSAS and SIPP providers. O...

Adrian Waddingham comments on David Pitt-Watson’s suggestion today that compulsory workplace pensions schemes might burden their members.
October 2011
“This fear is exaggerated. First, many pensioners now enjoying good company pensions might not have be doing so had their employers not made pension plan membership a condition of employment. Sadly th...

Dorchester Collection selects Barnett Waddingham and Davidson Asset Management for full Pension Servicing for UK Hotels
October 2011
The Dorchester has appointed Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, to advise the trustees of the UK hotels’ retirement benefits scheme, through providing ...

Two Local Government Pension Scheme cost cutting proposals put forward by the Department for Communities and Local Government
October 2011
Graeme Muir , Partner at Barnett Waddingham, said: “The Department for Communities and Local Government have put two options on the table – one where the Government’s required savings are met 50:50 fr...

Barnett Waddingham appoints new Partner to strengthen Corporate Team
October 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries, administrators and consultants, has strengthened its corporate team with the appointment of Andrew Vaughan as a partner. He will adv...

Barnett Waddingham is appointed by UBS to provide administration and actuarial services for longevity swaps
October 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has been appointed by UBS, to provide administration and actuarial oversight services for its longevity swaps. Barne...

Barnett Waddingham strengthens local team in response to business growth
October 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries, administrators and consultants, has appointed three new staff in its Liverpool office in response to significant business growth. St...

Barnett Waddingham completes fifth AAF Audit Report
September 2011
Barnett Waddingham has recently undertaken its fifth AAF 01/06 internal controls audit and published a report of the results. These reports identify a series of control objectives relevant to various ...

Advice Essentials for Annuity Purchase in the Present Uncertain Financial Climate.
August 2011
Speaking on the BBC Breakfast programme this morning, Barnett Waddingham consultant, Malcolm McLean said: “Now is an unprecedentedly difficult time for people who are approaching retirement and are lo...

Barnett Waddingham announces “Preparing for Auto Enrolment” Seminars
August 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries and consultants, has announced a series of seminars to be held in September and October 2011 on the topic of “Preparing for auto-enro...

Not a good time to be retiring
August 2011
Speaking on the BBC national television news yesterday, Barnett Waddingham consultant Malcolm McLean warned members of defined contribution (DC) pension schemes on the cusp of retirement that they cou...

Barnett Waddingham appointed by IM Group
August 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has been appointed by the trustees of IM Group’s pension scheme, the UK-based motor vehicle importer and distributor...

One in ten insurers not prepared for eventuality of a new financial shock
August 2011
One in 10 insurers would not have the resources to meet the minimum capital requirements (MCR) of Solvency 2 in the event of a new financial shock, according to the second European stress test conduct...

Solvency 2 to be delayed until 1 January 2014
August 2011
Commenting on the draft report from the European Parliament's Committee of Economic and Monetary Affairs on the European Commission’s proposal to delay the “Omnibus 2" Solvency 2 directive deadline by...

Barnett Waddingham on iTunes
August 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has launched its own iTunes podcast page where they will upload their pensions training video podcasts. The short po...

Malcolm McLean comments on the Workplace Retirement Income Commission (WRIC) report
August 2011
Commenting on the Workplace Retirement Income Commission (WRIC) report published today (1 August 2011), Malcolm McLean , consultant at Barnett Waddingham, said: “It is good that amongst other things t...

Graeme Muir comments on Government's consultation on proposed pension contribution changes
July 2011
Commenting on today’s announcement regarding the Government’s consultation on proposed pension contribution changes for civil servants, NHS workers and teachers, Graeme Muir , Partner at Barnett Waddi...

Barnett Waddingham celebrates impressive April exam results
July 2011
Barnett Waddingham’s latest actuarial exam results have been announced, with staff achieving another positive set of results. Barnett Waddingham’s overall success rate was 12% higher than the national...

What skills, traits and attributes to look for in an actuarial adviser
July 2011
Paul Jayson , Barnett Waddingham Partner, discusses with Pensions Week (11 July 2011 edition) what skills, traits and attributes to look for in an actuarial adviser. To read the whole article please c...

John O'Neill comments on the Mooted Delay to Solvency II Implementation
June 2011
Commenting on the mooted delay to Solvency II implementation, John O'Neill , head of Insurance Consulting Practice at Barnett Waddingham, said: “The date is almost certain to be pushed back to accommo...

Malcolm McLean Comments on the Office for National Statistics latest Pension Trends Report
June 2011
Commenting on the Office for National Statistics (ONS) latest Pension Trends Report, Barnett Waddingham Consultant, Malcolm McLean said: "The growing lack of pension saving particularly amongst low ea...

Barnett Waddingham appointed by three General Insurers
June 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has recently won three new General Insurance appointments to advise Hampshire County Council, Bestpark International...

Does the Government have a plan B should auto-enrolment fail to deliver the desired results?
June 2011
Speaking at the CBI Pensions Conference in Gleneagles, Scotland yesterday (14 June 2011) Barnett Waddingham Consultant Malcolm McLean told delegates there was a risk that the planned introduction of a...

Barnett Waddingham appointed to PPF valuation panel
June 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has been appointed by the PPF to join a panel of five firms to carry out PPF S143 valuations. These valuations are u...

Should cash offers to leave pension schemes be banned?
June 2011
The Pensions Minister, Steve Webb, is considering stopping employers from offering cash lump sums to their workers as an incentive to transfer out of their salary-related pension schemes. Malcolm McLe...

Barnett Waddingham announces partner and associate promotions
June 2011
Barnett Waddingham, the UK’s largest independent firm of actuaries and consultants, has promoted seven of its senior client advisors to the position of Partner, taking the firms total number of Partne...

Barnett Waddingham announces results of tenth annual survey determining
June 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries and consultants, announces the results of its 10th annual survey focusing on the assumptions adopted by FTSE100 companies for determi...

Life Expectancy - Gene Theory
June 2011
Catherine Love Soper considers the impact of genetic testing on life expectancy in this Pensions World article. In a nutshell, her article highlights that: we are undergoing a gene revolution and the ...

Malcolm McLean comments on the HSBC ‘Future of Retirement Report’
May 2011
Commenting on the HSBC ‘Future of Retirement Report’, Malcolm McLean , Consultant at Barnett Waddingham, said: “The report makes for interesting if grim reading. It confirms what we have known for som...

PPF’s Confirmation of New Levy Framework
May 2011
Commenting on the PPF’s confirmation of new levy framework, announced today, Nick Griggs , Partner at Barnett Waddingham, said: “It is pleasing that the PPF has continued to listen to comments from in...

Malcolm Mclean comments ahead of the second reading of the new Pensions Bill
May 2011
Commenting ahead of the second reading of the new Pensions Bill, taking place this Wednesday, where it is expected that the timetable for bringing the state pension into line for men and women at 65 w...

Barnett Waddingham announces Hot Topics seminars
May 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries, administrators and consultants, has announced a series of free nationwide seminars during May which will focus on the “ Test Achats ...

FRS17 funding level of university schemes improved says Barnett Waddingham’s 2nd Annual Survey
April 2011
The average FRS17 funding level of university pension schemes has improved slightly between 2009 and 2010 according to the 2nd annual survey of University Self Administered Trusts (SATs) conducted by ...

Please listen to me; I know what I am doing
April 2011
Robert Wakefield and Julie Walker talk to Pensions Age about the importance of keeping your pension administrator involved. To read the whole article please click on the link below For futher informat...

The SME view of QIS5
April 2011
After the fifth quantitative impact study (QIS5), what are the issues facing small and medium-sized insurers? A survey by Barnett Waddingham, in which most respondents were from this sector, gave a gl...

Full implementation of Solvency II by Jan 2013 ‘unlikely'
April 2011
Actuarial firm Barnett Waddingham believes that full implementation of Solvency II is unlikely to occur in the UK by the scheduled January 2013 implementation date. It believes that the UK’s Financial...

Barnett Waddingham announces Pension Protection Fund seminars
March 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries and consultants, has announced a series of free nationwide April seminars to improve understanding for employers and trustees of the ...

Rob Thomas of Barnett Waddingham comments on the consultation of the merger of income tax and national insurance contributions
March 2011
The consultation on the merger of income tax and national insurance contributions seems a natural step if a flat rate citizens’ pension is introduced, but it immediately triggers other problems, says ...

Malcolm McLean, Consultant, Barnett Waddingham, considers the arguments for and against the merger of tax and NI
March 2011
Malcolm McLean , Consultant, Barnett Waddingham, considers the arguments for and against the merger of tax and NI as recommended recently by the Office for Tax Simplification. Speculation is growing t...

UK Pension Personality of the Year Award 2011
March 2011
Both our Senior Partner, Adrian Waddingham , and consultant, Malcolm McLean have been shortlisted for the Pensions Personality of the Year 2011 award. Thousands of Professional Pensions readers took p...

Barnett Waddingham launch their Twitter page
March 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries, administrators and consultants, has recently launched a Twitter page. The page will be used to communicate information to those peop...

Graeme Muir, Partner at Barnett Waddingham, comments on the Hutton report released today
March 2011
“Lord Hutton’s recommendations are in line with what was well signposted. He has gone for the easy option for accrued rights by recommending maintaining the final salary rather than linking accrued be...

Malcolm McLean comments on the proposed changes to public sector pensions and the Hutton Report
March 2011
Malcolm McLean was quoted in an article in The Daily Mail which looked at the changes to public sector pensions and the Hutton Report. To read the full article please click here . For further informat...

Malcolm McLean comments on the DWP battle with the Treasury
March 2011
Commenting on reports that the DWP are on the brink of winning their battle with the treasury over a new £140 a week state pension for all, Malcolm McLean , consultant at Barnett Waddingham, said: “Th...

Danny Wilding considers the implications of the ECJ ruling for occupational pension schemes
March 2011
Speaking on the implications of the ECJ ruling for occupational pension schemes, Danny Wilding , partner, at actuaries Barnett Waddingham says trustees need to be mindful of how they need to react: “W...

Ten Key Pension Issues for SIPPs and SSASs
March 2011
We set out here ten brief thoughts about current pension issues – this guide is to promote you to think about your clients and not to be used as the basis for client specific advice. If any issue is r...

Dave Grimshaw comments on the ECJ Gender ruling on insurance
March 2011
Speaking on the ECJ Gender ruling on insurance, published today 1 March, Dave Grimshaw , partner, Barnett Waddingham specialising in insurance comments: On pricing: “There will be a lot of uncertainly...

Barnett Waddingham congratulates newly qualified staff members
March 2011
Barnett Waddingham, the UK’s leading independent firm of actuaries, administrators and consultants, has announced that four of its staff have recently gained the NVQ Level 4 Qualification in Pensions ...

Closing Final Salary Schemes: Choosing the lower risk options
March 2011
Amanda Bradley, Pension Administrator in our Bromsgrove office, talks to Pensions World and outlines what employers and trustees should consider when replacing DB with either DC or CARE. To read the w...

Navigating the minefield of transitional measures
March 2011
The publication of proposed transitional arrangements for Solvency II has generated wide-ranging views on how these might affect key elements of the directive and the pace of implementation. Will both...

Malcolm McLean receives award for “Outstanding Contribution to the Pensions Industry 2011”
February 2011
Malcolm McLean , Consultant at Barnett Waddingham has been recognised for his “Outstanding Contribution to the Pensions Industry 2011” The Pensions Management Institute’s (PMI) Awards, presented at it...

Malcolm McLean comments on early access to pensions
February 2011
Early Access to Pensions, Malcolm McLean comments “The NAPF are right in drawing attention to the risk of compounding the overall savings shortfall that already exists and could be made materially wor...

PPF’s announcement of changes to Valuation Assumptions
February 2011
Commenting on the PPF’s announcements of changes to Valuation Assumptions, Ben Roach , Associate at Barnett Waddingham, said: “The PPF is not proposing any radical changes to the assumptions used for ...

Trustee Meeting Handbook version II
February 2011
The latest version of Barnett Waddingham’s Trustee Meeting Handbook is now available. The handbook is intended to be a reference guide for trustees to use at trustee meetings to help their governance ...

Barnett Waddingham comment on discussion paper on enabling good member outcomes in work-based pension provision
February 2011
Mark Futcher , Associate, Barnett Waddingham, comments on The Pensions Regulator's discussion paper on enabling good member outcomes in work-based pension provision. Group pension providers now have a...

Use ‘Super glue’ for your pension scheme
February 2011
Robert Wakefield and Julie Walker talk to Pensions Age on the importance of quality pension administration Our recent writings on unreasonable costs and questionable practices in pension administratio...

Life After Regime Change
January 2011
Julian Mainwood , Associate in our Amersham office, discusses with Professional Pensions how the restriction of pensions tax relief will affect scheme administration. On the 14 October, HM Treasury an...

Barnett Waddingham comments on HMRC pensions 'bungle'
January 2011
Commenting on today's reports that HMRC has not credited over two million people with £1.2bn in NI contributions, Malcolm McLean , Consultant, Barnett Waddingham, comments: “This is scandalous if true...

Barnett Waddingham comments on recent PPF changes
January 2011
Commenting on recent PPF changes, Robert Hawkes , Partner at Barnett Waddingham, said: “The PPF has been reviewing its processes for admitting underfunded schemes with failed employers into the PPF an...

Barnett Waddingham comments on issues facing those with small pension pots in securing annuities
January 2011
Speaking regarding recent political discussion on problems faced by those with small pension pots in securing annuities, Barnett Waddingham consultant Malcolm McLean says: “It was reported last week t...