Many schemes are addressing the short-term issues around GMP equalisation, but they must think how they adjust the benefits for members and operate with those adjustments in place.
With recent news highlighting the ever increasing number of people being caught by the LTA, we explain what it is and how pension schemes and their members can navigate their way through the pension tax maze.
What does the ideal actuarial consultant look like? Danny Wilding, partner at Barnett Waddingham, argues the need for teamwork in actuarial consultancy.
John Cormell and Richard Gibson explore the issue of guaranteed minimum pension (GMP) conversion.
Looking ahead to the 31 March 2019 year-end, most companies reporting are currently looking at a broadly unchanged IAS19 funding position. The average funding level in our most recent survey was 96%, and this is likely to stay around this level.
Barnett Waddingham has responded to the DWP consultation to say we support the DWP in setting out the government’s proposals for Collective Defined Contribution (CDC) schemes. Danny Wilding, Partner, sets out his views on the consultation.
A few weeks post-Lloyds and we’re taking the finer points of the ruling as read - lots to do, or not do, legal advice to take, or not take, transfer values to suspend, or not suspend – a catalogue of unknowns that are raising trustee frustration levels up and down the country. Julie Walker, Associate, considers the problems trustees face after the Lloyds ruling.
Defined Benefit (DB) pension plans are entering a new phase in their decades-long journey from valuable employee benefit to legacy financial arrangement. Taking the analogy of a journey further than any firm had dared go before, we led delegates of the FT’s inaugural CFO Dialogues event, in November, on a space-themed tour of this peculiar universe.
“Your statutory rights are unaffected”, “subject to approval”, “terms and conditions apply”; there is plenty of small print in our lives. TAS 100 isn't just small print for actuaries though: it's a key part of a framework of professional standards.
Volatility is a particularly subjective assumption which can have a significant impact on the value placed on share-based awards – affecting both the design and accounting value of the awards.