Posts by Brian

Brian Spence

Brian Spence

Fellow of the Institute and Faculty of Actuaries and Society of Actuaries in Ireland, scheme actuary, professional pension trustee
Brian Spence

Spence & Partners, the UK actuaries and consultants, today announced their appointment by Edinburgh Airport Pension Plan for their award-winning, fully-integrated approach to DB scheme management – ‘The Spence Approach’.  Services to the 329 member, £95 million Plan will include actuarial, investment and pension scheme administration.

Brian Spence, Scheme Actuary to the Plan at Spence commented: “Trustees are looking for greater scheme transparency and a more joined-up approach to funding, investment and governance.  Our Mantle® system allows schemes to make informed decisions around their funding at any point in time, based upon the live administration and investment data – what we see, they see.  Trustees are no longer looking in the rearview mirror; instead they can be fully responsive to funding opportunities that will benefit the scheme.  We are very pleased to be working with Edinburgh Airport and the Trustees.”

Nicky Muldoon, Head of Procurement and Trustee of the Pension Plan commented: “Appointing an adviser with a fully integrated scheme management approach was something we at Edinburgh Airport and trustees of the airport’s pension scheme identified as a key measure to protect the long term benefits for scheme members, and the appointment of Spence and Partners will deliver on both of those fronts.  We are pleased to be working with Spence and Partners and look forward to a successful relationship with them.”

Brian Spence

Complete the jigsaw to reveal a new Christmas themed Spence logo. The timer will start from the moment you click on the first piece and will stop when you have all the pieces in place.

Good luck, it’s just for fun but if you complete it in under 1 minute you are doing well!

Brian Spence

Spence & Partners welcomes the creation of a Lifetime ISA but said it was unfortunate that the current pensions tax system was still in place.

Brian Spence, at Spence and Partners said: “What’s not to love about the Lifetime ISA compared to the complex pension tax system? The snag is the government bonus stops at 50 and if you are over 40 before April 2017 – tough luck!

“Young people however get a Government bonus of £1,000 for each £4,000 and you can take it out whenever you want if you need it but lose the government bonus until age 60. For young workers it is a “no-brainer” – max out your Lifetime ISA before you even think about pensions saving with its complexity, tie-ins, charges and near certainty of political interference.

“It is a pity the Chancellor did not take the bolder step of killing the current pensions tax system once and for all – but he may well have landed a significant blow!

“The Lifetime ISA is clearly the shape of things to come.”

Brian Spence

Spence & Partners today announced the appointment of Hugh Nolan, previously JLT’s Chief Actuary, as director. Hugh will be based in Spence’s London office and begins work with the business on 1 April.

Brian Spence, Founder, commented: “Hugh comes with a great deal of experience at a senior actuarial level, so he will take a leading role in our group and his presence in the London region will consolidate and further enhance our position in this competitive market. We very much look forward to him joining us in April and welcome him wholeheartedly on board.”

Hugh added: “I am very pleased to be taking a leading role in driving forward Spence’s business. Spence has carved out an enviable reputation for high standards and innovation and are a great choice of adviser for all sizes of employer and pension scheme.”

Hugh entered the pensions industry in 1989 and has worked for several large consulting firms, most recently JLT / HSBC, where he has been since 2002. He sits on Council of the Society of Pension Professionals (SPP) and is Chair of the DC committee of the Association of Consulting Actuaries (ACA).

Brian Spence

Spence & Partners today announced the appointment of Simon Cohen as Head of Investment, based in our London office.

Brian Spence, Founder, commented: “We are extremely proud of our investment consultancy capability, which we believe is unique in the market. Pension scheme trustees and charities are coming under increasing scrutiny and indeed increasing pressure to maximise returns while managing risk. In the pensions arena, our cutting edge pensions technology, Mantle, monitors the value of assets and liabilities every day empowering trustees to make real time decisions or use automated switching and take advantage of investment opportunities as they arise.

“Simon has experience of a wide range of investment work including strategy setting, manager selection and liability hedging, which will add further weight to our proposition. He will work closely with corporate, charity sector and pension clients on all aspects of investment strategy. We are very pleased to welcome him on board.”

Simon added: “I’ve watched Spence grow in size and stature over the years and I look forward to helping drive the development of the practice in the future, harnessing the existing skills and expertise within our business to add even more value to existing clients and attract new ones.”

Simon entered the pensions industry in 1994 and became a Fellow of the Institute and Faculty of Actuaries in 2000. He has worked for three major consultancies holding senior roles in both investment consulting and management positions.

Brian Spence

Spence & Partners, the UK pension actuaries and administration specialists, today announces that it has appointed Martha Quinn as Consultant. The newly created role will provide legal support throughout the Spence Group and will benefit the business and its clients. Martha will also assume responsibility for managing and strengthening relationships with key law firms.

Brian Spence CEO of Spence and Partners, commented: “While pension freedom has resulted in far more choice and clarity for members, the complexity behind the scenes has grown enormously. It will be Martha’s role to ensure that our team and clients fully understand the new world we are now in, along with all the nuances within it. We already have a leading role in advising in the charity sector and Martha’s wealth of experience around multi-employer pension schemes, public sector out-sourcing and wider legal and governance issues will further enhance our offering in this area. With two decades of experience in pension law, and advising on everything from industry wide schemes to mergers and acquisitions, we are very much looking forward to Martha joining the team, and the contribution she will be able to make.” Read more »

Brian Spence

Spence & Partners, the UK pension actuaries and administration specialists, today announced their move to new, larger, offices in the City.

The firm, who first opened their London office in the West End in 2013, also has offices in Belfast, Glasgow, Bristol and Manchester.

Brian Spence, Founder at Spence & Partners, commented; “The last three years in London have been great for Spence, we have constantly innovated and it is pleasing to see our team in London grow. In the last 12 months we have picked up two major industry awards for ‘Best Administration’ and ‘Consulting Innovation’ which is a great recognition of our work.

Spence & Partners new offices are at 46 New Broad Street.

Brian Spence

Spence & Partners, the UK pensions actuaries and administration specialists, scooped their second award of the year last night at the European Pensions Awards 2015. The company was awarded the Pension Scheme Administrator of the Year title for their ‘Spence approach’* for defined benefit (DB) pension schemes at a prestigious ceremony at London’s Grosvenor House Hotel.

Spence were judged against their peers by a panel made up of professionals from across the European pensions sphere, including providers, pension funds, consultants and representatives from various European pensions and investment associations

Brian Spence, CEO of Spence and Partners, commented: “We recognised some time ago that pension schemes are no longer working to an indefinite time horizon and needed new and innovative solutions to help them, so we developed our services accordingly.  To say we are thrilled to receive this award, our first for administration, is an understatement. We are incredibly proud of the service and have worked hard to carve our niche in this market so to be recognised by such influential and expert industry colleagues from across Europe, against such stiff competition, is a fantastic acknowledgement of the hard work and dedication of our team in putting it together. Read more »

Brian Spence

Spence & Partners, the UK actuaries and administration specialists, today announced that Marian Elliott, Director and Head of Trustee Advisory services at the firm, has been awarded the prestigious International Association of Consulting Actuaries (IACA) Young Actuary High Achievement Award at the International Congress of Actuaries held in Washington D.C. this month.

Brian Spence, Founder of Spence & Partners, commented: “Marian thoroughly deserves this international recognition as she has made a significant contribution to the UK pensions industry, to her clients and the Actuarial Profession as a whole – all in a relatively short space of time for a young Actuary. Marian’s dynamic, pragmatic and enthusiastic approach to actuarial work is highly regarded by clients and industry professionals; and she highlights the positive impact a strong Actuary can have on a Scheme.” Read more »

Brian Spence

As the PPF announces the launch of a Specialist Administration Services Panel, Rob Jones of PPF TV talks to Panel Manager, Paul Turrell, about what this will mean for pension schemes in the PPF assessment period.

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