Appointment to manage schemes within Occupational Pensions Trusts

Our press release at the end of February was reported in the following national and international journals. Just click on the journal name to be taken to web based version of the article:

Employee Benefits

Plansponsor Europe

Global Money Management

Business Today – March 2011

To raise awareness about the “Auto-enrolment” legislation, business publication “Business Today” devoted a special supplement to the new pension rules in March 2011. The supplement contains an article by Grove’s Corporate Pensions Manager, Ken Tymms, urging employers to review their approach to pension planning in light of auto-enrolment and other legislation and trends.

You can download a copy of the article by clicking here

Transferring your DB scheme to Occupational Pensions Trusts (OPT)

Pension scheme trustees are duty bound to act in the best interests of members, not the employer. Keeping a close eye on the employers covenant is therefore a key trustee responsibility.

 

Of course, a balance often has to be struck. Sometimes trustees have to accept that the members’ interests are best served by compromising on pension contribution levels to help the company survive and prosper.

 

But what if the employers covenant becomes dangerously weak and/or the company’s survival is threatened? What’s in the members’ best interests then? (more…)

Engaged Investor – Investment Handbook 2011

The Investment Handbook aims to give trustees the tools they need  to understand the investment options available to their scheme.

On Page 52 of the Investment Handbook, is a contribution by Grove’s Corporate Pension Manager, Ken Tymms, arguing that the active/passive debate must be kept in context.

You can read the article here, or access the complete handbook at the Engaged Investor web site.

Survey of smaller firms’ pensions

You know, defining ‘smaller firm’ seems to be a bit of party game. You’ll notice that our target market is ‘small companies’ and we view that as meaning SME’s (small and medium sized enterprises) which has historically encompassed firms employing less than 500 people. However many users still struggle to define ‘small’ and ‘medium’. Hey ho.

Thankfully, the Association of Consulting Actuaries (ACA) have a firm view of what ‘smaller’ means and it seems to concur with the EU ‘standardisers’; firms employing less than 250 employees. What’s more, they’ve been conducting surveys on that basis for a few years now. Their latest survey has just been released and it makes interesting reading. Here are a few headlines from this years’ survey: (more…)

Employer ‘auto enrolment’ duties

You’ll probably have heard that auto enrolment is going to cost you money. What you might have heard so much about though is the list of tasks that the employer has to perform. Here’s a list to help: (more…)

Miriam O’Reilly and the case for workplace pensions

Like everyone else no doubt, I saw the recent press news about the success of Miriam O’Reilly’s ageist claim against the BBC and had a little chuckle to myself. I suppose there’s nothing to laugh at really; it was just the mental picture of a programme director subtly (or not so subtly) pointing to the fact that wrinkles are more obvious in High Definition nowadays, as a way of (allegedly) trying to influence voluntary termination. I don’t want to get sued so I’ll leave it at that; it made me chuckle.

Mind you, there’s a really serious ageist message flowing from this case that all employers must take on board. In this increasingly litigious society, the traps for the unwary seem to grow more numerous and more worrying each day. Although this case was not about retirement, this is what my pensions head thought of: (more…)

Update – Trustee Knowledge and Understanding

If you’re a trustee, you have a legal duty to maintain knowledge and understanding of the law relating to pensions and trusts. It’s not easy is it?. Despite government claims to have ‘simplified’ pensions, a day rarely seems to pass without a new development, consultation or legal change passing across my desk. That’s hard enough for me so it must doubly hard if it’s not your day job! (more…)

Web site refresh

If you’ve browsed through our web site before, please have another look. It’s been completely updated. (more…)

Does your scheme qualify for the PPF?

Members of UK Defined Benefit schemes have enjoyed increased security in the event of their employers’ failure since the establishment of the Pensions Protection fund (PPF). Or have they? (more…)

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