UK - Six major UK pension schemes have banded together to produce an ‘A' Day modeller called PensionMentor.
The schemes said the modeller comes at a time when many employers are faced with the need to help their most highly paid executives through the implications of ‘A’ Day - April 6, 2006 - in a way that is cost effective.
The six schemes include USS, Cable & Wireless, Diageo, DMGT, Hunting PLC and Pensions Management (Railways Pension Scheme).
The modeller has been produced in conjunction with communication consultants Anthony Hodges Consulting and actuaries Lane Clark & Peacock.
Colin Busby, communications manager for USS, said: “We were looking for an answer to a short term challenge that’s quite complex without spending a lot. With PensionMentor we recognise we’ll be getting a lot more for our money than we would if we’d done it alone.”
“PensionMentor has been designed to allow an executive to make considerable progress alone and evaluate their ‘A’ Day solution in a way that they will understand,” said Jonathan Camfield, partner at LCP.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.