Pension services for housing associations

Across the housing sector, pension management is becoming more challenging

If yours is one of the housing associations that participates in the Local Government Pension Scheme (LGPS) or the Social Housing Pension Scheme (SHPS) then you may not always have the control you need. Worsening valuation results may be heightening your concerns.

Is your Housing Association running its own Defined Benefit or Defined Contribution scheme? If so, do you have the resourcing in-house to manage them as well as you’d like?

Why First Actuarial?

We give clear advice to housing associations. The information we provide is comprehensive but concise.

We have carried out pension reviews for some of the sector’s largest organisations – including many of London’s G15 group – as well as some of the smaller housing associations.

Having worked with more than 100 housing associations of all sizes, we can pinpoint the key issues for your organisation quickly and efficiently. We’ll help you understand the options available and guide you to making decisions that are right for your organisation.

Our expertise covers all the main housing sector pension arrangements – SHPS, LGPS, Growth Plan and Group Personal Pensions – as well as in-house schemes.

Are you running a Defined Benefit scheme?
If so, we can help you

Review your pension provision

Many housing associations struggle to assess the growing number of schemes in the sector. Whether you use LGPS, SHPS or another pension arrangement, we can help you navigate the options and review costs and benefits.

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Communicate with scheme members

Pensions are a significant employee benefit, but do your staff understand the full value of what you offer? Our communication packages can simplify the complexities and highlight the benefits of your pension provision.

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Manage termination debts

Housing associations withdrawing from multi-employer schemes often get hit with punishing termination debts. We can help you plan ahead and set a mitigation strategy that may reduce or completely avoid termination debt.

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Help employees in higher tax bands

If more and more of your employees are in higher tax bands, we can help improve financial wellbeing in your housing association by reviewing pension arrangements, setting policies and delivering financial education.

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Allow for pensions in mergers and acquisitions

Pension issues are an important area to address in a merger or acquisition. Our thorough due diligence process can help your housing association identify and mitigate pension-related risks in the proposed arrangements.

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Account for pensions under FRS 102

We help housing associations in the LPGS and SHPS schemes meet FRS 102 and IAS19 accounting standards cost-effectively. We offer a thorough accounting service at a fixed and reasonable price, and work to agreed timescales.

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Set up a salary exchange arrangement

Salary exchange makes pension contributions more efficient, delivering savings for employers and employees alike. We can help quantify the savings and set up a salary exchange arrangement for your housing association.

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Are you running a Defined Contribution scheme?
If so, we can help you

Design and benchmark a DC scheme

We’ll help you select the right DC scheme for your needs and budget, giving you a sound understanding of benefit structures and costs. We’ll then benchmark your benefit package against what similar organisations offer.

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Auto-enrolment and re-enrolment

We help housing employers comply with the complex rules of auto-enrolment and re-enrolment. We guide them through the processes, check that their DC scheme and systems are optimised, and pre-empt any regulatory action.

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Set up a salary exchange arrangement

Salary exchange makes pension contributions more efficient, delivering savings for employers and employees alike. We can help quantify the savings and set up a salary exchange arrangement for your housing association.

Find out more

Get in touch

Contact us to find out more about the pension services our sector specialists provide to housing associations.

Housing association briefing

Our briefings are aimed at employers in the housing sector, providing regular updates on pension issues of importance to the sector.

Make sure you’ve got the right pension information in place

Make sure you’ve got the information you need to monitor your pension arrangements. First Actuarial’s firstwatch service provides an affordable package of essential pension resources for Housing Associations.

I’d like to find out more about firstwatch

Get an up-to-date picture of FRS 102 results and assumptions

First Actuarial’s FRS 102 survey 2021 is out.

Read the biggest Defined Benefit survey in the UK social housing sector.

Download the survey

First Actuarial NFP Brochure

Click here to download the First Actuarial NFP Brochure

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First Actuarial case studies

Aster Group

Housing association Aster Group extended its financial wellbeing programme and brought in First Actuarial to deliver a bespoke Retirement Planner, with supporting webinars and one-to-one sessions.

"People love the one-to-ones and are grateful for them. It’s a valuable offering that would otherwise cost them hundreds of pounds. People recognise it as a real benefit."

Read More...

Bromford

First Actuarial partnered with Bromford to communicate extensive pension scheme changes and improve financial wellbeing, delivering more than 40 group presentations to 1,200 colleagues.

"Working with First Actuarial was a highly professional partnership that had a positive effect on our colleagues. We received great feedback on both the group and one-to-one sessions they ran."

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Watford Housing Trust

The risk of a significant cessation debt hung over Watford Community Housing as the number of its employees participating in the Local Government Pension Scheme (LGPS) diminished.

"First Actuarial are very approachable. They're very good at helping managers and Board members digest a very complex and difficult area, and they've also been proactive in helping us shape an innovative solution."

Read More...
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