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.
The valuation process for LGPS Funds is now underway and while the information for the valuation is not yet available, we can provide some indications of the methods we will be proposing and the direction in which we anticipate the results will go.
The revised Actuaries’ Code came into force on 18 May 2019, introducing a new, distinct principle of 'Speaking Up.'
MHCLG have recently issued a consultation on a number of proposed changes to the LGPS in England and Wales.
The LGPS has been waiting since 2013 for New Fair Deal to be enshrined into its regulations. Following an earlier consultation and subsequent rejection of the proposals, this new consultation proposes a different way forward.
Transfers to non-LGPS arrangements can be more complicated and are covered by different regulations. This Note sets out some of the principles and issues associated with bulk transfers between Local Government Pension Scheme (LGPS) Funds.
With fewer DB pension schemes open to new joiners, many DB schemes are now on the long road to their end. This makes it increasingly important for trustees and employers to think carefully about what they are trying to achieve in the long term.
Barnett Waddingham’s annual analysis of DB schemes in the UK (with assets over £1bn) is now available. As the only research of its kind, it highlights the continued decline in DB schemes and the shifting focus of employers towards the DB pensions endgame.
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.
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.