News and comment

NHS Employers launches First Actuarial’s NHS Pension Scheme Annual Allowance and tax ready reckoner

The tool cuts through the complexity of the Annual Allowance to provide a simple traffic light risk indicator for NHS staff, says Dale Walmsley.
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Seven ways to improve Defined Benefit funding

In March 2020, The Pensions Regulator (TPR) opened a consultation on its proposed revisions to the DB funding code. In framing its response, First Actuarial proposes seven ways to change DB funding for the better.
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Record growth for First Actuarial’s asset transitions team

First Actuarial has seen a sizeable increase in asset transition activity this year and is on track for a record year, despite the challenges presented by Covid-19. Richard Lunt discusses the background to this increase in activity.
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First Actuarial gives pension schemes more say over shareholder voting

Exercising voting rights is a key way to tackle Environmental, Social and Governance (ESG) issues. But pension schemes, in common with other institutional shareholders with assets invested in pooled funds, have no control over this – fund managers cast votes as they see fit.
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The future of RPI – First Actuarial responds to Government consultation

Hilary Salt discusses proposed changes to the Retail Prices Index (RPI), highlighting a number of questions which First Actuarial has raised in its formal response to Government consultation.
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Improving scheme administration transfers – First Actuarial’s Robert Wakefield chairs industry working group

Transferring from one scheme administrator to another is a known problem in the pensions industry. Unexpected exit fees can undermine some of the benefits of switching providers. And delays, which are common, make it hard for trustees to plan and can damage relations with scheme members.
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Covid-19 and financial wellbeing – A webinar for UK employers

First Actuarial has produced a webinar to help the UK workforce take control of its finances during this challenging time. It’s freely available to all UK employers, who can then distribute it to their staff as they see fit.
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Dolce Ltd Retirement Benefits Scheme Trustees appoint First Actuarial

Dolce Ltd is an artisan catering company, providing school meals of restaurant quality, freshly cooked using raw ingredients. Established more than 20 years ago, they now supply schools across the UK, and served 11 million school dinners in 2019.
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How much will your employees need in retirement?

How much money will your employees need in retirement? According to the PLSA, a single person living outside London would need an annual income of £10,200 for a minimum standard of living in retirement. For couples, this figure is £15,700. And that’s just for the basics and a bit of fun money.
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The latest life expectancy figures are out –What do they mean for pensions?

The CMI (Continuous Mortality Investigation of the Institute and Faculty of Actuaries) has released the latest version of its Mortality Projections Model, also known as CMI_2019.
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What do NHS employees say about their pensions?

Concerned about the impact of pensions taxation – and the Annual Allowance in particular – NHS Employers asked First Actuarial to carry out some independent research, to see how widespread the problem was.
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Pension freedoms – How to help your employees manage their retirement income

At First Actuarial, I lead a specialist team that works with employers to provide financial education in the workplace. Pension freedoms is something we often discuss with our clients’ employees, addressing its impact in a range of formats – from group workshops to drop-in surgeries and face-to-face sessions.
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Intergenerational fairness – Why solidarity beats conflict every time

As intergenerational fairness climbs up the political agenda, First Actuarial’s Hilary Salt previews a fringe meeting at TUC Congress, Brighton. Intergenerational solidarity beats intergenerational conflict will explore how pension professionals and trade unionists can work together to improve pensions and living standards across the generations.
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Sorting out GMP equalisation – How hard can it be?

GMP equalisation explained. A step-by-step guide to GMP equalisation calculations for pension schemes and their administrators.
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CDC pension schemes are go! UK Government gives green light to life-changing pension innovation

Hilary Salt welcomes the Government’s consultation response and looks forward to the introduction of a CDC pension scheme at Royal Mail.
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Royal Mail, CWU and First Actuarial – History in the making with CDC pensions

CDC, or Collective Defined Contribution, is now a talking point in the pensions industry, but it all started in the UK when Royal Mail. proposed closing the company’s Defined Benefit scheme
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GMP equalisation and your pension scheme – What trustees need to know and how they can prepare

Part one of a series of GMP updates. The latest GMP equalisation developments, from Robert Wakefield, Head of Pensions Administration at First Actuarial.
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Auto-enrolment is here to stay – So what happens next?

As employers prepare for the second phase of contribution increases, First Actuarial’s Simon Redfern looks at the present and future of auto-enrolment.
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First Actuarial case studies

The Kennel Club

Concerned about the risk of an Employer contribution increase as a result of high liabilities, Trustees of the Kennel Club Pension Fund turned to First Actuarial.

“They’re extremely professional and helpful. Their input always seems sound, logical and well presented. First Actuarial handled the transition well, they provide us with helpful guidance, and have delivered what they promised when they pitched for the work.”



The RSPB was determined to minimise the impact of its new defined contribution scheme on employees, and appointed First Actuarial to support the transition and select a provider with strong ethical values.

“I would definitely recommend working with First Actuarial. Their consultants went over and above the call of duty to make sure the project progressed smoothly.”


Bolton Cares

Taking responsibility for care services previously provided by a local authority, Bolton Cares turned to First Actuarial for help in setting up a competitive and affordable DC pension scheme for its staff.

“They’ve been really helpful and professional throughout the project, and we’ll use them again if we need specialist advice.”

See all our case studies
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