Transferring from a DB scheme is a major decision for members and there are many factors that should be taken into account. Simon Taylor, Partner offers advice to these members to understand their transfer options.
We have developed a streamlined process to carry out GMP equalisation and potentially conversion and simplification too. An outline of what this will look like is available to download.
This briefing is for those who will be involved in preparing and auditing pensions disclosures under Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed) as at 31 March 2019.
TPR has published its annual funding statement, aimed at trustees and sponsoring employers of DB pension schemes undertaking scheme funding valuations. It provides guidance on expectations and indicates how they intend to step up their oversight.
From 2019/20 the LTA will be £1,055,000 and there's been a continued increase in the use of EGLPs for employees who already have a high level of benefit in a registered scheme. This briefing talks about an important change to eligible beneficiaries.
This briefing note looks at the key messages of the funding statement. Key areas covered include balancing risks, DRCs vs dividends and what the expectations of the TPR are.
The new Master Trust Authorisation legislation aims to improve the standards for master trust schemes. However, some multi-employer schemes will not appreciate that they are a master trust and that they will have to comply with the new standards.
The key financial assumptions required for determining pension liabilities under the Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed) are the discount rate and the rate of future inflation.
Pension consolidation is a broad concept, ranging from simplifying a scheme’s governance structure, to merging with other schemes to take advantage of economies of scale.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under UK and international accounting standards as at 30 September 2018.