Pension news
Week ending 10 January 2020
The Pension Schemes Bill has been reintroduced. It is substantially the same as when it was introduced last October and now starts its journey towards becoming law in the House of Lords.
In a podcast released this week, the FCA confirmed that it has stopped 24 of the 63 firms it assessed in 2019 from offering DB transfer advice, due to significant bad practice. In recent work the FCA has found that only about 50% of the advice given on DB transfers is suitable. It is currently individually assessing the 90 “most impactful” firms that provide such advice. It has also written to 1,600 other firms to outline specific concerns.
The Chancellor has confirmed 11 March 2020 as the date of the first Budget of the new government.
The UK Mineworkers’ Pension Scheme and British Coal Staff Superannuation Scheme have been successful in their US class action against the company, First Solar. First Solar was accused of concealing a manufacturing defect in its products and reporting false information in the company’s financial statements. A pre-trial $350 million settlement has been agreed for all who bought or acquired shares in the company in the relevant period. This settlement is still subject to approval by the US District Court of Arizona.
DC governance
Our DC governance solutions are suitable for large and smaller arrangements, with the latter under increasing scrutiny from TPR
Actuarial advice
We provide comprehensive and truly independent actuarial advice to help companies manage their defined benefit liabilities successfully
DB governance
Our award-winning governance offering can help you make small adjustments to your DB governance or provide a root and branch review
Web services
We have a wide range of technology solutions that can be tailored to your specific needs
Operational support
We provide additional resource or dedicated project management for specialist or one-off projects
Recent publications
BAC News
Hymans Robertson announces today that it has acquired Bath Actuarial Consulting (BAC). At the same time Andrew Udale-Smith and Leonard Bowman from Bath Actuarial Consulting (BAC) will be joining the firm as new Partners.
29 January 2021
In the news over the last week, the DWP responds to its consultation on climate risk governance and reporting for pension schemes, transfer-blocking powers could be on the horizon, MaPS delivers on pension guidance and there’s more de-risking.
Pensions Arena October 2020
This quarter’s Arena has a summary of our recent Pensions Perspective, “Endgame planning comes of age”, which looked at how long-term funding and investment plans are evolving and why companies are increasingly taking the lead in designing an endgame strategy. It also shows all the usual financial and investment analysis for the quarter ending 30 September 2020.
Endgame planning
Journey plans or glide paths may have been around for a long time but they’re at the heart of the Regulator’s proposed new funding code. In this Pensions Perspective, Leonard Bowman looks at how long-term funding and investment plans are evolving and explains why companies are increasingly taking the lead in designing an endgame strategy for their schemes.
Pensions Arena July 2020
This quarter’s Arena has a summary of our recent Pensions Perspective, “Emerging from lockdown”, which looked at how best to tackle the most common pension issues which companies are currently facing. It also shows all the usual financial and investment analysis for the quarter ending 30 June 2020.
Unit 13A | Church Farm Business Park | Corston | Bath | BA2 9AP | Telephone: +44 (0) 1225 481450
Registered Address: 37 Great Pulteney Street, Bath BA2 4DA | Company Registered in England & Wales Company No. 07975135
