• 2019

    First briefing, August 2019 – New duties for trustees

    In our August First briefing, we look at the new stronger governance arrangements around investment duties which will apply to trustees and managers of occupational pension schemes from 10 December 2019.

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    First briefing, March 2019 – Annual funding statement

    Each year the Pensions Regulator prepares an Annual Funding Statement and the 2019 edition has just been published. Our March briefing takes you through the important new developments covered in this year's statement.

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    First briefing, February 2019 – Superfunds

    Superfunds are one of the more interesting DB consolidation solutions to emerge recently. Essentially they involve a third party providing additional capital to replace the covenant of the sponsoring employer. We take a detailed look at how superfunds work and whether you should be considering them for your scheme.

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    First briefing, January 2019 – Auto-enrolment update

    April 2019 will bring two updates to auto-enrolment regulations – the last of the planned increases in contribution phasing, and changes in qualifying earnings and other limits. Read on for further details in our latest First Briefing.

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    First briefing, January 2019 – Salary sacrifice

    If your business is under relentless pressure to make cost savings while keeping staff onside, salary sacrifice is worth considering. Implementing salary sacrifice on pension contributions is a potential win-win, offering National Insurance (NI) savings for both employer and employees. Find out how in our opening First briefing of 2019.

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  • 2018

    First briefing, November 2018 – GMP equalisation

    The judgment in the Lloyds Banking Group case has at last provided clarity on how to deal with Guaranteed Minimum Pension (GMP) equalisation, although it may not have given the answer many had hoped for. This briefing covers the recent judgment and considers where we go from here.

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    First briefing, October 2018 – Budget 2018

    The Chancellor of the Exchequer presented his Budget on 29 October 2018. This briefing sets out some of the key points around pensions and other employer-provided benefits.

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    First briefing, October 2018 – PPF levy 2019/20 consultation

    The PPF have recently published for consultation their draft rules for determining the PPF levy for 2019/20. This briefing looks at the key points, giving key deadlines and specific guidance on contingent assets,

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    First briefing, July 2018 – Equitable Life

    The announcement that Equitable Life is to transfer all its policies to Reliance Life will have widespread ramifications across the pensions world. We look at what it will mean for Equitable Life policyholders, and recommend actions that trustees can take at this stage.

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    First briefing, May 2018 – DC disclosure costs and charges regulations

    Following the DWP's 2017, the government has now issued regulations and guidance on the disclosure of cost and charge information relating to occupational money purchase benefits. This should make it easier to compare value for money between schemes. In this First Briefing, we take you through the key elements of...

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    First briefing, March 2018 – White Paper on protecting DB pension schemes

    In March, Government published a policy paper on how it intends to increase the protections for DB scheme members and make improvements to the pensions system. This First Briefing gives a summary of the main themes of the proposals, with some comment and analysis from First Actuarial.

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    First briefing, February 2018 – Auto-enrolment contribution phasing

    When the government introduced auto enrolment in 2012, it set minimum contribution levels that would increase over time. The first increase of this 'contribution phase' takes place on 6 April 2018. This briefing sets out the new rates and provides guidance on member communication and consultation, and the processing of...

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    First briefing, January 2018 – Auto-enrolment review

    Although the automatic enrolment (AE) regime is not yet fully rolled out, the DWP has already carried out a review. The results of this review, which examined coverage, engagement and future contributions have just been published. We provide a digest of the review's proposals and findings, assess the successes of AE to date,...

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    First briefing, January 2018 – Record-keeping

    In November 2017, the Pensions Regulator published an update to its original guidance on record-keeping. The new guidance looks at measuring and improving the quality of pension scheme data. This briefing takes you through the new guidance and recommends a number of steps trustees should take.

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First Actuarial case studies

RSPB

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.”

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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.”

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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.”

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