Rumours suggest the Budget will see Philip Hammond finally get his hands on the billions tied up in it. It is never easy to predict with any degree of certainty what the chancellor may or may not do in his Budget when it comes to pensions.
In June, the FCA published their “Retirement Outcomes Review – Final Report”, which followed from the Interim Report they issued last year. Their Report was accompanied by a Consultation Paper, entitled “Proposed changes to our rules and guidance”.
HM Treasury’s Open Consultation on Pension Scams was published on 5 December 2016. Amongst other things, it proposed that all cold-calls to consumers regarding pensions should be banned; potentially including e-mails and texts.
One of the more interesting HR observations over the last few years is that benefit strategies work best when they are structured to form part of the ‘whole’.
GDPR has been in force for a couple of months now and the flurry of opt-in emails and bulletins has finally died down. As actuaries in the public sector, the impact on day-to-day business has been, well, surprisingly minimal.
It's becoming harder to use pay as a differentiator. This element of total reward is becoming more standardised as a result of transparency through pay benchmarking, reporting, job families, grading and levels and the restraint applied to pay awards.
The PPF has released its 2019/20 PPF levy consultation, setting out its plans for calculating the levy to be invoiced in autumn 2019.
With the results of the Lloyds Bank case expected next month, GMP equalisation may become a reality for many schemes in the very near future. It is important to anticipate the implications this may have for companies’ year-end accounting.
At our pre-2019 valuation seminar, we shared our insight on all the latest in the Local Government Association, legal news in the public sector, 2019 valuations for LGPS funds and everything you need to know about our exciting new online data checker. Melanie Durrant, associate and consulting actuary gives the highlights.
With pension scheme deficits having the potential to significantly impact a company’s accounts, company directors should be considering ways to improve their UK DB scheme’s funding level.