The revision to the Code brings a new emphasis to our responsibility as qualified or student actuaries to speak up if we believe that a course of action in unethical or unlawful.
HR needs to think and act more strategically by advising on and influencing business performance from an employee proposition, experience and performance perspective, rather than just reactively responding to what the business believes it wants and needs.
We are largely supportive of most of what is being proposed in the consultation, but will still have a lot to say; the devil is in the detail and, as ever, we also need to think through any unintended consequences.
According to our Navigating Change report, free thinking and independent advice are crucial factors in avoiding retendering triggers. Paul Houghton’s latest blog provides further insight into these structural shifts.
There are now only just over six months to go before the new regulations on environmental, social and governance (ESG) disclosure come into effect for pension schemes.
Pensions are supposed to be boring – public sector pensions even more so. Actuaries are only supposed to get excited very occasionally and when they do, it’s often hard to tell that they are excited.
An employer will make a very generous contribution of 10% to a pension, but only if the employee makes a contribution of 6%. However, some employees are unable to make the 6%.
The DC pension formula (growth stage) is pivoted on the trinity of how long you put money in to it, how much you put in to it and net investment return.
When asked what were the top triggers leading to a retendering process, 59% of respondents cited ad hoc review, 58% stated a board directive, while 54% stated an inability to overcome a crisis point on a specific initiative.
From Brexit to Safeway via the Lifetime Allowance – Head of Pensions Research, Tyron Potts, maps out an ‘A - Z’ of everything you may have missed in the world of pensions this spring.