The Pension Cost Accounting Index shows the financial position of the UK’s 5,422 DB pension funds on an accounting basis.
This gives Finance Directors early warning of changes in financial conditions.
Modest increases to both corporate bond yields and inflation over October mean that pension cost accounting liabilities remained fairly stable. Aggregate assets have decreased slightly over the month, with a fall in the value of growth assets in particular. Overall, we have seen a slight worsening in the balance sheet position of the UK’s DB schemes, although the position for individual schemes may vary significantly depending on liability profile and investment strategy.
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.”
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.”