Archive for February 2013

Admin

We are pleased to say that Spence and Partners have been shortlisted in the Professional Pensions UK Pensions Awards 2013 for Third Party Administrator of the Year.  The winners will be announced on Thursday May 2nd at an awards ceremony to be held at the Grosvenor House Hotel in London.

John Griffin

While Daniel Day-Lewis is being lauded for his portrayal of Abraham Lincoln, we should remember that there are other inspirational US presidents worthy of mention – although perhaps not in living memory (sorry Barack, early hopes have faded, if not disappeared).  One such president was Thomas Jefferson, an American ‘founding-father’, and third president.  Read more »

Valerie Hartley

Shopping for an Annuity

Buying a pension annuity is an important one-off decision. It is therefore crucial that people take advantage of extra income if available to them when converting their pension fund savings into an income for life. The only way for annuity purchasers to ensure they are not missing out on extra income is by shopping around to compare annuity rates and income offers. Read more »

Admin

Fraser Sparks has kindly agreed to contribute the following blog for the Spence & Partners’ website. He is a partner at Stephenson Harwood with over ten years’ experience of advising employers and trustees on all aspects of pensions law.

For one reason or another it seems likely that within a very short space of time we will reach a point when virtually all defined benefit occupational pension schemes will have at least one professional trustee on their board.  This blog is not intended to be an advertisement for professional trustees; rather it looks at some of the reasons why business is booming in this sector.

One must start by looking at the context within which DB schemes now operate.  Most are closed to new entrants – so are no longer relevant to the employer’s recruitment policy; and an ever increasing number are ending future accrual of benefits – and so are no longer relevant to the employer’s retention policy.  We have therefore seen a shift in the way pension schemes are managed by employers – this is no longer a human resources issue, it is simply a finance/ treasury issue. Read more »

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