Archive for March 2009

Brian Spence

Had a look at the Society’s accounts for 2007 and at 31 December there was an FRS17 liability of £32.9 versus assets of £25.7.  £16.2 million was in equities so will be worse now.

Looks like a likely new entrant to the PPF unless there is a very substantial element of the liabilities that exceed the cap for compensation.

Brian Spence

The Actuarial Profession has published the results of its survey on UK actuaries’ views on the profession, its future goals and on the proposed merger between the Institute and Faculty of Actuaries.

Another piece of thinly disguised PR for the Profession’s leadership’s obsession with this merger amid the worst financial crisis since the 1930s.

One comment included in the survey is the criticism “We are almost entirely inward focussed.”  Not half!

Brian Spence

Spence & Partners has launched a data evaluation tool for scheme trustees and administrators.

The specialist administrator’s launch follows guidance on record keeping from the Pensions Regulator (tPR).

The data tool evaluates the quality of electronically held scheme data and provides a rating. The report also delivers a quality rating in relation to a specific action, such as a scheme buyout or the provision of scheme transfers. Read more »

David Davison

Hot on the heels of recently issued guidance from the Pensions Regulator on “Record Keeping – Good practice in measuring member data” specialist administrator Spence & Partners has launched a data evaluation tool aimed at scheme trustees and administrators.

The data audit report evaluates the overall quality of the scheme data held electronically and provides a rating. It can also provide a quality rating in relation to a specific exercise being undertaken, for example, scheme buyout or the provision of scheme transfers. The report provides information which meets the Pensions Regulator’s required outputs and provides a list of all the areas which need attention prioritised according to their potential impact. Read more »

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