Pension funds are subject to increasingly complex rules; public sector funds also have their own regulations, statutory requirements and guidance making them distinct in many ways from those in the private sector.
Our specialist team recognises the unique nature of these funds and the regulatory environment which governs them. We provide clear, pragmatic and practical advice with fast turnaround times to all parties involved with these funds.
In addition to actuarial services, we provide consultancy and support services for benefit administration assisting with fast turnaround times to all parties involved with these funds, supporting and complementing your in-house services and staff. We also provide services to local pension boards and their members, including partnering with CIPFA to provide support and training to meet and maintain their required levels of knowledge and understanding.
We look after over 20% of LGPS Funds across the breadth of the UK.
In addition to our LGPS Funds we also provide services to Police Authorities, Fire & Rescue Services, NHS Trust Funds and various employers who participate in public sector schemes, such as the Principal Civil Service Scheme.
“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.
Aon released their report commissioned by the Scheme Advisory Board, identifying potential issues surrounding the participation of Tier 3 employers in the LGPS. We’ve set out some of the key issues and findings.
Given the focus on pensions in recent budgets, we were all hoping that the Chancellor would leave public sector pensions alone. Largely this was the case in last week's budget.
The new LGPS (Amendment) Regulations 2018 finally emerged on 19 April 2018, and came into force on 14 May 2018. We discuss the arising issues that administering authorities should consider with regard to exit credits.
Our latest note outlines some of the considerations that should be taken if a new employer becomes an admission body within an LGPS Fund under a pass-through arrangement. Read the note to find out more.
As part of the 31 March 2016 valuation process, 15 of the English Funds participating in the Local Government Pension Scheme (LGPS) advised by Barnett Waddingham agreed to take part in a project to comprehensively review their mortality assumptions.
After a number of difficult years, our 8th annual report on the pension provision of the FTSE350 shows that 2017 is hoping to be the turning point for the defined benefit (DB) pension schemes of the UK’s largest public companies.
DB pensions report an overall deficit decrease of £22bn for the first time in recent history. We’ve delved deeper to understand what this means for the FTSE100.
This is our seventh annual survey of the assumptions adopted by UK universities for determining the value of their pension liabilities for accounting purposes.
We are pleased to announce the appointment of experienced actuary, Barry McKay, as a new associate in the public sector team.
A raffle held at the Barnett Waddingham staff Christmas party has helped to raise additional financial support for Crisis at Christmas – the charity that aims to end homelessness and help change people’s lives for the better.
In the last set of exam results we are delighted to have two new qualified actuaries and an excellent set of results for our hardworking actuarial students.