First Actuarial
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…
The Cheviot Trust appoints First Actuarial as scheme actuary
Defined benefit (DB) and defined contribution (DC) master trust The Cheviot Trust has selected First Actuarial to provide actuarial services for the scheme.
CDC is key for nascent cultural revolution
The general election showed an increasing focus on collective over individual interests. CDC could fit right in, says Hilary Salt.
DB funding - August 2019: PPF 7800 funding collapses as gilt yields and equity returns tumble
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the August 2019 estimates on the various measures…
DB funding - July 2019: PPF 7800 records £39bn deficit increase as gilt yields plummet
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the July 2019 estimates on the various measures…
Woodford debacle is chance for pensions to shine
Trustees should seize the opportunity to engage and educate members about their investment choices, says Henry Tapper.
DB funding - June 2019: 'Best estimate' surplus grows £14bn
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the June 2019 estimates on the various measures…
DB funding - May 2019: Best estimate funding level stagnant over May, says First Actuarial
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the May 2019 estimates on the various measures…
Should master trusts adopt CDC?
Last month, a roundtable looked at the future of CDC and whether master trusts are well-placed to provide such an arrangement. Kim Kaveh reports
DB funding - April 2019: Bond yield growth boosts funding positions
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2019 estimates on the various measures…
Have IGCs improved value for money in contract-based pensions?
A fourth round of IGC reports has emerged and they are looking quite different to last year following regulatory change. Kim Kaveh looks at the key findings.
Let's make discretionary increases fashionable again
Hilary Salt asks if it is legitimate for trustees who have a fiduciary duty to members to assume that surplus should only be spent on locking in to lower returns
What the Lloyds case means for advising DB schemes
Henry Tapper says the Lloyds GMP ruling will see little benefit for members but profound fees to administrators.
Partner pensions: Time for change?
Hilary Salt says we should look again at whether DB schemes should provide a partner pension given the vast social changes over recent decades
DB surplus hits record high of £382bn on best estimate basis, says First Actuarial
The UK's 5,588 defined benefit (DB) schemes had a combined surplus of £382bn at the end of June, according to First Actuarial's best estimate index (FABI).
The danger of lamenting 'it's not fair' in pensions
Hilary Salt says by blurring the line between what is legally required and what 'feels fair', we create uncertainty about what is and isn't allowed
First Actuarial's DB index surplus reaches record high in April
All 6,000 UK schemes had a surplus of £361bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
IGC reports for 2018 remain as diverse as ever
Henry Tapper says while most IGCs are making progress, there is still a long way to go until they fulfill the promises set by the OFT.
CDC easy to enable but needs clear governance from the get-go, MPs told
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
DC schemes aren't pensions
Hilary Salt says DC is merely a savings vehicle, and argues collective DC would provide a wage in retirement more efficiently
DB members urged to ignore 'scaremongering' as schemes '129% funded'
The UK's defined benefit (DB) pension schemes were 129% funded on a 'best estimate' basis on 31 December 2017, according to First Actuarial.
First Actuarial's DB index surplus reaches record high in November
All 6,000 UK schemes had a surplus of £358bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
Select committee calls special probe of BSPS advice
A "special" evidence hearing will be held by the Work and Pensions Committee (WPC) in order to probe "questionable approaches and unsuitable advice" given to British Steel Pension Scheme (BSPS) members
We need to learn to love the PPF more
Hilary Salt says rather than designing new DB superfunds, wouldn't it be better to grow to appreciate and improve our existing superfund?
