Housing briefings

  • 2020

    Close

    Housing briefing, November 2020 – The calm waters before SHPS arrive.

    Our themes this month are strategy and governance, words that get thrown around all the time…and rightly so. We are currently sitting in the sweet spot between LGPS and SHPS valuations; LGPS contributions are set now until 2023 and the SHPS valuation results are almost upon us. However, there are...

    Read more

    Housing briefing, October 2020 – LGPS – Do you have to exit through the gift shop?

    In our August briefing, we outlined new flexibilities offering housing associations an alternative exit route out of the LGPS. With new legislation in place, this briefing considers the potential options available when planning to end benefit accrual. Is this a chance to exit via a conveniently open side-door rather than...

    Read more

    Housing briefing, September 2020 – It’s time to talk tax…pensions tax

    It’s that time of the year again when Annual Allowance statements are issued to members of executive teams and senior management who have saved too much in their pension scheme over the last tax year (2019/20).   But what do these statements mean? What action can staff take? And is...

    Read more

    Housing briefing, August 2020 – New flexibility to leave the LGPS

    Government is to amend LGPS regulations to give employers more flexibility to end benefit accrual without paying a huge exit payment upfront. This briefing will cover this development in detail, and will take a look at the NHF’s draft Code of Governance and how pensions fit in. Finally, don’t forget...

    Read more

    Housing briefing, July 2020 – SHPS Day webinar

    The next funding valuation of the Social Housing Pension Scheme (SHPS) has an effective date of 30 September 2020 and contributions are, once again, subject to review. First Actuarial is holding a webinar at 11am on 'SHPS Day', to guide you through the valuation process and how to be ,...

    Read more

    Housing briefing, June 2020 – FRS 102 survey results

    In this briefing, we publish the full reslts of our inaugural annual survey of FRS 102 assumptions and results across the social housing sector. The survey’s 202 responses cover over £7bn of pension accounting liabilities, making it the biggest ever Defined Benefit (DB) pension survey of the sector.

    Read more

    Housing briefing, May 2020 – Webinar: Covid-19 and your employees

    First Actuarial is offering a Covid-19 wellbeing webinar, available on-demand to all UK employers and their staff, free of charge.

    Read more

    Housing briefing, April 2020 – Pension cost accounting as at 31 March 2020

    The past month has seen unparalleled volatility in financial markets due to Covid-19. For housing associations with a 31 March accounting year end, this means assumptions and disclosures are likely to be materially different from last year. In this briefing, we explore the impact of financial markets on your FRS102...

    Read more

    Housing briefing, March 2020 – Covid-19: 7 key actions

    The Covid-19 pandemic is hitting countries around the world and causing widespread disruption. We consider how this unprecedented crisis is impacting on pension schemes and sponsoring employers, and identify actions housing associations should consider taking.

    Read more

    Housing briefing, February 2020 – Pensions cost accounting assumptions

    For many housing associations, 31 March means the accounting year-end and the preparation of annual accounts. Whether you have LGPS liabilities, SHPS liabilities, or any other Defined Benefit pension scheme liabilities, you can control what assumptions are used.

    Read more

    Housing briefing, January 2020 – LGPS funding agreements

    The LGPS 2019 valuation marks an important decision point for housing organisations. As negotiations over future contributions continue, we highlight key issues to be aware of, and report on a number of funding agreements we've already helped put in place.

    Read more
  • 2019

    Open

    Housing briefing, December 2019 – Pension calendar 2020

    Our 2020 pension calendar gives key dates and deadlines for housing association staff with pension responsibilities.

    Read more

    Housing briefing, November 2019 – How competitive is your DC scheme?

    Employers are keen to offer DC contributions that are affordable yet attractive enough to help recruit and retain talented staff. To help you benchmark your DC scheme, our latest briefing discusses the range of DC contributions paid by more than 100 UK housing associations.

    Read more

    Housing briefing, October 2019 – SHPS bulk transfers

    Bulk transfers from the Social Housing Pension Scheme (SHPS) commonly occur at this time of year and 2019 has been no different, with three First Actuarial clients successfully moving their share of SHPS assets and liabilities to another pension arrangement. Find out more.

    Read more

    Housing briefing, September 2019 – The latest LGPS valuation

    The first results of the 2019 Local Government Pension Scheme (LGPS) valuation are being released over the next two months, and a picture is starting to emerge. Read our September 2019 briefing and sign up to our forthcoming webinar to find out more.

    Read more

    Housing briefing, August 2019 – Navigating the Annual Allowance

    Annual Allowance issues have been in the news recently in relation to NHS doctors. However, the Annual Allowance can have an impact in a wide range of schemes. This briefing gives an overview of the Annual Allowance regime, and discusses how employers can identify employees affected and support them.

    Read more

    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.

    Read more

    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)

    Read more

    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.

    Read more

    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 defined benefit (DB) accounting has been applied to SHPS and it will be a learning curve for some employers. Our...

    Read more

    Housing briefing, April 2019 – SHPS: double deadline day

    April's bulletin reminds you of two important deadlines for the 30th April, on both DB and DC sections and how First Actuarial can help.

    Read more

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

    This bulletin tells you how TPT will help (including the provision of an online modeller that is expected to be launched on 13 May 2019) and what you can do yourself to take control of your SHPS accounting.

    Read more

    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.

    Read more

    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.

    Read more
  • 2018

    Open

    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...

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

    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.

    Read more

Do you have any more questions?

Contact us today for more information

Get In Touch

Subscribe to our briefings

Our briefings are rightly famous. Enjoy their unique combination of acerbic wit and pension insights.

Select Subscriptions

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.”

Read More...

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.”

Read More...

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.”

Read More...
See all our case studies
© 2020 First Actuarial | Site By Punch Creative