• 2019

    Housing briefing, July 2019 – LGPS Consultation summary

    This bulletin is a reminder of the key areas covered by the LGPS consultation and provides a link to First Actuarial’s response.

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    Consultation response, July 2019 – LGPS valuations and employer risk

    First Actuarial’s response to the Ministry of Housing, Communities & Local Government’s policy consultation “LGPS: Changes to the Local Valuation Cycle and Management of Employer Risk” (May 2019)

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    Housing briefing, June 2019 – LGPS funding agreements

    Our June briefing covers cessation debts, which will form part of the latest triennial valuation of the Local Government Pension Scheme (LGPS). We also look at Funding Agreements, which set out the terms applicable when a cessation trigger occurs.

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    Housing briefing, May 2019 – FRS102 FAQs

    The online tool for employers to download their FRS102 disclosures for the Social Housing Pension Scheme (SHPS) was released on 13 May 2019. This is the first time that full DB accounting has been applied to SHPS and it will be a learning curve for some employers. Our May briefing...

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    Housing briefing, April 2019 – SHPS: double deadline day

    April's briefing provides a timely reminder of two important deadlines for 30th April 2019. For DB sections, the employer form of authority needs to be complete by 30th April 2019. And for DC sections, life cover for SHPS DC members needs to be confirmed by the same date. Read our...

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    Housing briefing, March 2019 – SHPS: Take control of your accounts

    The impact of moving to DB accounting is likely to result in higher accounting deficits for many employers, as well as changes to the charges passing through the income and expenditure account. Our March briefing explains how The Pensions Trust can help and what you can do to take control...

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    Housing briefing, February 2019 – 7 hot LGPS topics

    This month our focus is on the Local Government Pension Scheme (the “LGPS”). We take you through seven hot topics that are currently impacting the LGBS – from the reassessment of employer costs to the exit surplus.

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    Housing briefing, January 2019 – Pension calendar 2019

    An at-a-glance calendar of events, milestones and alerts to help you stay ahead of pension changes. 2019 promises to be another busy year in housing pensions, with the LGPS valuation results, ongoing work to protect LGPS employers from immediate cessation debts, Growth Plan liability management and auto-enrolment changes.

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  • 2018

    Housing briefing, December 2018 – SHPS DC section: life cover changes

    SHPS have now announced details of how life cover will be  paid for in future. They've also confirmed that the current 3 x multiple of salary life cover will no longer be compulsory. Employers now need to consider how they will fund life cover for their staff. This briefing goes...

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    Housing briefing, November 2018 – SHPS affordability deadline looming

    Housing associations are facing punishing increases in their SHPS deficit contributions - over 500% in some cases - following the 2017 valuation. If your housing association is affected by this change and wishes to appeal, read our briefing for details of the appeal process and imminent deadlines.

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    Housing association briefing, October 2018 – SHPS results out and July extension agreed

    SHPS results are out, and a July 2019 extension has been agreed, delaying increases to future service costs until that date.

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    Housing association briefing, September 2018

    In this issue, we help housing association senior managers and the executive teams understand the implications of the new limits on pension tax relief for both individuals and employers.

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    Housing association briefing, August 2018

    In advance of the results of the SHPS valuation, the August 2018 briefing outlines the actions employers will need to take in the face of anticipated deficit payment and contribution increases.

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    Housing association briefing, July 2018

    Current proposals may mean that employers have to make a full disclosure of their SHPS liabilities in their accounts from 31 March 2019. We discuss what this means for your balance sheet, the likely costs and timescales, and how First Actuarial can help.

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    Housing association briefing, June 2018

    Do pension schemes balance risk fairly between employers and their employers? We take a look at plans for Collective Defined Contribution (CDC) and how it could offer a viable alternative for housing associations in future.

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    Housing association briefing, May 2018

    SHPS employers received an email this week from the newly-formed Employer Committee (EC), providing its first update on the 2017 valuation. This month’s briefing provides some further background on the 2017 valuation, and explains the role of the EC.

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    Housing association briefing, April 2018

    Our mental, physical, social and financial wellbeing make up our overall wellbeing. This briefing focuses on financial wellbeing, and specifically, how financial education can form part of pension consultation and improve the financial wellbeing of your employees.

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    Housing association briefing, March 2018

    Hot off the press from the SHPS employer forums taking place this month, this bulletin alerts housing associations to the alarming message that future service rates could increase by as much as 30% to 50% after the 2017 valuation.

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    Housing association briefing, February 2018

    Why are some housing associations leaving SHPS? In the wake of several high-profile departures, Sam Mullock, actuary, offers guidance for housing associations reviewing their pension strategy.

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    Housing association briefing, January 2018

    Make sure you're fully compliant with the next stages of auto-enrolment. Our January issue gives you a detailed summary of actions employers need to take.

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First Actuarial case studies


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.”


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.”


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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