UK - NAPF CONFERENCE- Local Government Pension Scheme funds have the flexibility to smooth out drops in funding levels, Mercer Human Resource Consulting European partner Chris Hull told delegates.
Hull said this year’s actuarial valuations would show big drops on 2001 levels but their government backing and long-term outlook means LGPS funds should avoid a “knee-jerk” reaction.
Hull used Mercer’s “Evolve” modelling software to demonstrate the implications of market movements on the LGPS, claiming financial security was attainable without the need to “mortgage the future”.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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