We’re now well in to the new regulatory environment somewhat ironically called pension “simplification” (clearly somebody needs to buy HMRC a dictionary or at least a quick and easy guide on how to use one) and the supposedly level playing field imposed between trust and contract based pension arrangements and some interesting issues have begun to emerge. Read more »
Posts Tagged ‘Professional Trustees’
In a reversal of the traditional economic relationship between Scotland and Northern Ireland, actuaries Spence & Partners has expanded from its Belfast origins to become the largest independent, privately-owned actuarial firm servicing the SME sector in Scotland within two years of opening an office in Glasgow.
Established in 2000, Spence & Partners opened its Glasgow Office in 2004 and has grown both its turnover, to £2.5 million, and its staff ever since. The firm is presently positioning itself for a further surge in demand for its services with a range of senior appointments. Read more »
There’s been a lot of press comment recently about companies offering staff what have been called ‘sweeteners’ to give up all or part of the final salary promise from their pension scheme.
Given the extent of the final salary pension problem, its potential impact on business and the likely timescale over which scheme deficits now need to be addressed I think that it’s hardly surprising that companies are seeking solutions which help them to manage their final salary liabilities more proactively. Read more »
In business terms you always used to know when you’d arrived. A company parking space, the key to the executive toilet, first class travel and a seat on the trustee board of the company pension scheme. How times have changed.
You’d have needed to be living on a desert island to have escaped the mass of press comment surrounding what has now become one of the key issues, not only in the pensions arena, but also on the corporate agenda. The Pensions Act 2004 (“the Act”) received Royal Assent on 18 th November 2004. It extends to 325 sections and 13 schedules with more regulation and guidance to follow. It will begin to take effect from April 2005 and whilst the legal position of trustees remains unchanged the Act will define the role of a trustee more closely. Read more »