One of Lord Hutton’s key recommendations was that retaining defined benefit schemes in the public sector should come with the condition that there is a “cost cap” mechanism. This seemed like a good idea at the time but like many things in life is easier to say than actually do.
The positive impact of employee happiness and high levels of wellbeing on the workplace is well established by now. Their contribution to the complexities of the productivity puzzle is accepted by many HR practitioners and other business professionals
Within living memory the accepted wisdom that we are born, go to school, work, retire and die has been turned on its head. This is true with regard to working past state retirement age, whether through personal choice or financial necessity.
What does the ideal actuarial consultant look like? Danny Wilding, partner at Barnett Waddingham, argues the need for teamwork in actuarial consultancy.
Most LGPS benefits build up gradually during each member’s employment. However, if a member retires early as a result of ill-health, it might not just be the member that is laid low; the employer’s funding position may also be feeling down.