An intrepid Spence team took part in the Rob Roy Challenge on Saturday. This comprises of a 16 mile run followed by a 39 mile cycle. I was exhausted just watching this from the support car but I am very pleased to say that the team of 6 all finished and we did not suffer any casualties along the way!
The team set off from Drymen at 8.22am in miserable conditions. They walked, jogged and sprinted to the first checkpoint in Aberfoyle (7miles). As each of them arrived in Aberfoyle they were soaked and covered in The Midges, however this did not put them off and they ploughed on! The rain continued as they headed towards Callander (16 miles) where they would pick up their bikes. Read more »
When working with charities on their pension provision I’m constantly reminded of the old joke about the man stopping and asking for directions in Ireland and being told “Well sur, if you’re trying to get there I wouldn’t be wanting to start from here!” This feeling of being a bit lost and not quite sure where to turn is an all too consistent theme.
So in terms of developing a suitable strategy for the future what should charity trustees be looking at? Read more »
UK pensions actuaries and administration specialists Spence & Partners today said that a greater part of the communication around Auto Enrolment should be to emphasise the need to contribute more than the minimum requirement. This will go some way to help avoid understating the true contributions required for members to achieve their desired retirement fund.
Commenting, Marian Elliott, Director at Spence said: “Auto Enrolment is starting to look like the ‘five-a-day’ fruit and vegetable campaign. The government set the nutrition figure at five-a-day as it was felt that it was too much to ask for people to engage with the real required amount, which is around nine-a-day. Whilst this campaign has inevitably helped the overall situation on healthy eating, it is now so embedded as a figure that people do not seek to find out the amount they should truly be eating for a healthy lifestyle. So too with contributions. If the industry place too much emphasis on the minimum figures as good retirement provision, then members are less likely to consider contributing further to actually reach their pension goal. Read more »
Dissecting The Pensions Regulator’s latest funding statement, and encouraging trustees to use the tools at their disposal in my latest blog for Pensions Funds Online –
Now that the nonsense of ‘smoothed’ discount rates has rightly been consigned to Actuarial Room 101, trustees and advisers are turning to face the challenges of funding valuations in the current difficult economic environment. Deficits are up (yes, I know markets are up, but liabilities have generally gone up faster) and employers’ cash reserves are probably down.
So what do we do now? Read more »
David Davison answers questions regarding pensions provision in the event of an Independent Scotland. Click here to watch the interview.