Barnett Waddingham
Five stories you may have missed this week
This week’s top stories included Barnett Waddingham announcing nine new partner promotions, while three accounting bodies came together to publish Covid-19 guidance for the compilation of pension scheme accounts.
Barnett Waddingham announces nine new promotions to partner
Barnett Waddingham has promoted nine to partner level in response to growing client demand and to maintain market-leading service delivery for clients.
Five stories you may have missed this week
This week’s top stories included XPS Pensions revealing the best and worst performing fiduciary managers in Q1, while the Pensions and Lifetime Savings Association has published a template to help defined contribution trustees with annual chair’s statements....
British Bankers' Association scheme completes £95m full buy-in deal with Aviva
The British Bankers’ Association Pension Scheme (BBA) has completed a £95m bulk purchase annuity transaction with Aviva.
Nick Salter: Focusing on people, not the financials
Ahead of stepping down as senior partner next week, Nick Salter tells James Phillips about building Barnett Waddingham up to £100m in turnover, his client-first mantra, and his desire for greater consumer trust.
Hold on to positives in oppressive times
While the Covid-19 pandemic will see many feel the pinch on their pension savings, it has the potential to drive real positives in the workplace, says Malcolm McLean.
Covid-19: Your industry guide
The Pensions Management Institute has produced an industry guide to Covid-19.
Covid-19 widens divergence in scheme funding
The proportion of defined benefit (DB) schemes closed to future accrual has increased by 18 percentage points over the last five years, according to Barnett Waddingham.
Treasury extends RPI consultation period
The Treasury has announced a four-month extension to its consultation on reforming the Retail Prices Index (RPI) in response to the Covid-19 crisis.
Five stories you may have missed this week
This week’s top stories included the Smurfit Kappa UK Pension Fund’s completion of a £1.2bn fiduciary and liability-driven investment deal with River and Mercantile, and figures showing pension transfer activity has dropped to its lowest level since 2014....
Schemes could see 12% funding drop from RPI move
Potential changes to the Retail Prices Index (RPI) could land some schemes with a fall in their funding level as high as 12% according to Barnett Waddingham.
Coronavirus-driven capacity crunch to leave DB members flailing
Retirees looking to access additional income from their defined benefit (DB) scheme during the Covid-19 crisis will be victims of a “capacity crunch” as suitable financial advisers flee the market, according to Barnett Waddingham.
Updated: The contingency plans activated by administrators during the coronavirus outbreak
In the face of the coronavirus outbreak, Holly Roach looks at the contingency plans activated by key pensions administrators to ensure business continuity.
Getting a better bulk annuity price from your insurer
Nimble footwork enables small schemes to compete with the big boys in the buyout market, says Stephanie Hawthorne.
Which? calls for urgent introduction of a pensions dashboard
Which? has called for urgent introduction of a comprehensive pensions dashboard after an investigation revealed how the current system leaves workers struggling to track down their retirement pots.
The PPF levy impact of the change from Experian to D&B
The PPF is changing its insolvency risk provider as part of a triennial review of its levy rules. Lewys Curteis looks at how this could impact schemes.
UPDATED: The UK's biggest pension consulting firms by revenue
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
Chancellor contemplates cuts to higher rate pensions tax relief
Speculation is growing that chancellor Sajid Javid is seeking to raise revenue by cutting the tax relief on pension contributions for high earners from 40% to 20%.
Limited RPI change now factored into company pension disclosures
Companies with large pension schemes have already made budget allowances in advance of proposed changes to the Retail Prices Index (RPI), Willis Towers Watson (WTW) says.
The challenges of a self-sufficiency approach
A self-sufficiency approach is not riskless and trustees must consider covenant strength and longevity exposure. Chris Ramsey looks at the key considerations of running schemes on.
Levy-payers warned not to delay review of PPF insolvency risk changes
Pension Protection Fund (PPF) levy-payers may be leaving themselves open to “unwelcome surprises” by failing to check their accounts early on, Barnett Waddingham has warned.
Barnett Waddingham posts double-digit growth
Barnett Waddingham’s full year results reveal significant growth at the business, with revenue reaching almost £100m. Holly Roach reports
2019 has been frustrating for pensions but will next year be any better?
While the pension schemes bill was said to command cross-party support, Brexit and acrimonious parliamentary debates are leaving its success in doubt, says Malcolm McLean.
General levy increase gets broadly negative response from industry
The Department for Work and Pensions’ consultation on increasing the general levy has closed. Holly Roach looks at the industry’s response to its proposals
