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Pension Scheme of the Year Awards 2008 – Winners announced
Here it is – a full list of the winners of the Pension Scheme of the Year Awards 2008.
The awards were presented at a gala dinner last nightat London’s Park Lane Hilton by broadcaster and former Conservative cabinet minister Michael Portillo.
The winners are:
Pension Scheme of the Year
Electrocomponents Group Pension Scheme
Pensions Manager of the Year
John Chilman, The First UK Bus Pension Scheme
DB Communications (private)
Electrocomponents Group Pension Scheme
DB Communications (public)
Royal County of Berkshire Pension Fund
Best DC Communication Strategy (under 1500 members)
ITV Pension Scheme
Best DC Communication Strategy (over 1500 members)
Guardian Media Group – The G and MEN Lifestyle Plan
Pensioner Communications (private)
Co-operative Group Pension (Average Career Earnings) Scheme
Pensioner Communications (public)
Norfolk Pension Fund
Website Design Award (private)
Johnston Press Pension Plan
Website Design Award (public)
Greater Manchester Pension Fund
Best Promotion of AVCs
Northern Ireland Local Government Pension Scheme
Trustee Development Award (private)
Co-operative Group Pension (Average Career Earnings) Scheme
Trustee Development Award (public)
Clwyd Pension Fund
Best Benefit Statement (private)
AstraZeneca Pension Fund
Best Benefit Statement (public)
Transport for London Pension Fund
Best Use of SRI Award
Universities Superannuation Scheme
Corporate Governance Award
London Pensions Fund Authority
Best Use of IT
Daily Mail and General Trust (DMGT) Pensions
Best In-House Administration (private)
Co-operative Group Pension (Average Career Earnings) Scheme
Best In-House Administration (public)
Strathclyde Pension Fund
Best Use of Specialist Investment Manager (private)
The Honda Group – UK Pension and Assurance Scheme
Best Use of Specialist Investment Manager (public)
West Midlands Pension Fund
Premier Scheme of the Year (over £5bn)
Strathclyde Pension Fund
Large Scheme of the Year (£1bn-£5bn)
Tesco PLC Pension Scheme
Medium Scheme of the Year (£250m-£1bn)
Electrocomponents Group Pension Scheme
Small Scheme of the Year (up to £250m)
Independent Schools’ Pension Scheme
Public Sector Scheme of the Year
Norfolk Pension Fund
DC Scheme of the Year
Jones Lang LaSalle Group Personal Pension Scheme
The judges for this year's awards were:
- Life Academy chief executive Stuart Royston
- Credit Suisse Asset Management director and head of UK institutional distribution Terry O’Malley
- PricewaterhouseCoopers partner Richard Cousins
- JPMorgan Worldwide Securities Services senior vice-president Benjie Fraser
- Norton Rose pensions department head Peter Ford
- HamishWilson & Co managing director Hamish Wilson
- Cowen Asset Management sales and marketing director Ann Ellis.
The judging panel was chaired by Rowles Associates director Robin Rowles and former Professional Pensions editor Len Roberts.
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12 Sep 2008 12:56 by NWalker Pension Scheme of the Year?
I wonder what the criteria are for a pension scheme to be awarded scheme of the year?
I work for an organisation representing more than 700 employees at RS Components (sponsoring employer of the Electrocomponents Group Pension Scheme). Many of our members are also members of the Scheme’s DB section and they were far from happy – angry, in fact – with the changes that their employer made to the Scheme this year.
These changes included breaking the link between final salary and pension accrual by imposing a cap on the annual growth of pensionable pay plus penalties on retirement linked to improvements in life expectancy (the bulk of the workforce is based in Corby which has a much lower average life expectancy than the national average).
I suggest that the future judging panels for these awards should include employee representatives to reflect the opinions of the people that really matter – the schemes’ members.
12 Sep 2008 13:24 by JChurcher Pension Scheme of the Year?
I do not know what the criteria are for scheme of the year, but NWalker gives us a strong clue by almost answering his own question.
Most employers have closed their DB schemes due to issues with governance and funding, caused in part by changes in legislation and in mortality. In a business where employees obviously value DB pensions and would not want to switch to a DC scheme, a way was found to preserve DB with some creative measured changes rather than close DB altogether. Well done Electrocomponents, it sounds like you deserve your award.