Hindsight is a wonderful analytical tool, but its practical applications are limited, of course, to pinpointing problems after they have arisen rather than being able to prevent them from happening in the first place.
We do not have the ability to foretell the future, but we can make changes when we recognise where mistakes have been made in the past and for those that are ready to act quickly there are significant benefits to be had. Nowhere is this fleet footed approach more important than in the world of pensions. Read more »
Spence & Partners, the largest independent locally-owned firm of actuaries and consultants in Scotland and Northern Ireland, expects to deliver a 15% increase in turnover and staff during 2009.
The firm has offices in London, Glasgow and Belfast and although its Scottish client base accounts for some 60 per cent of its total, an ambitious expansion strategy has secured a significant presence in England. Read more »
There has been a huge increase in the number and size of not-for-profit organisations over recent years, fuelled by local authorities’ appetite for out-sourcing public sector services. Most of these bodies are small, run on tight budgets and receive much of their funding from the public purse. Significant growth in this sector continues as the government seeks to control its public spending by laying off liabilities to these private sector suppliers. Read more »
There has been much recent press comment about the continuing row between the Government and the Public Sector Unions over proposed pension reform. So why should we be interested in this local difficulty/skirmish? Well basically because it is us as tax payers who will ultimately pick up the bill for the decisions taken and ultimately any government climb down similar to that of John Prescott prior to the election could see us all with increased tax to pay. Read more »
I read with great interest the news that Government ministers had bowed to pressure from local authorities and found an extra £1bn to plug this year’s budget shortfalls, £300m of which was necessary to fund their collective pension scheme deficits. The move followed lobbying by the Local Government Association in an attempt to stave of what would have been a politically unpalatable 10 per cent rise in council tax in the run up to the general election. Read more »
The great Eagles song Hotel California has the immortal lines “You can check in any time you like, but you can never leave” which perfectly sums up a growing crisis brewing between the public and private sector. Read more »