Aon Hewitt service lead for GMP reconciliation Matt Ashton-Smith talks about GMP reconciliation and asks why it is now the biggest project priority for schemes
In this video, Ashton-Smith explains the current state of play with GMPs, setting out both the deadlines schemes need to meet and what they need to do to meet them.
He also explains what are the key stages in a reconciliation project and looks at the extent to which employers and pension schemes are currently underestimating the amount of work required in such projects.
To learn more about Aon Hewitt's pension and benefits administration services, visit its website here.
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.
Around two-thirds (77%) of Local Government Pension Scheme (LGPS) funds have received a claim relating to historic transfers over the past 12 months, according to Eversheds.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the December 2020 estimates on the various measures…
Schemes need to dynamically and closely monitor the position of their employer covenant and its corporate longevity, ensuring the assessment is not conducted in isolation, the Employer Covenant Practitioners Association (ECPA) says.