Spence & Partners latest blog for Pension Funds Online –
In October, Auto Enrolment celebrated its first anniversary and those of you who remember your school days will know that you were given an overall grade at the end of the year (well you were at my school anyway).
Now you were judged on many things, attendance, behaviour, manners, punctuality, and effort, to name just a few. It was a good year if I crept into B– territory but that is another story; so let us turn our attention to auto enrolment and what grade it should get.
Now if you believe everything that the pensions minister Steve Webb says, then you would definitely be heading towards an A grade, but of course not many people believe anything a minister says so we can probably discount that one. Read more »
Since the Pension Protection Fund’s doors opened in 2005, around 600 pension schemes have transferred into it, covering a membership of around 190,000. And around 90,000 pensioner members are now receiving PPF compensation.
Following the insolvency of a scheme sponsor, a scheme automatically enters the PPF and has to go through what is known as an assessment period before it is eligible to transfer. Read more »
Simon Kew has kindly agreed to contribute the following blog for Spence & Partners’ website. Simon is the Director of Pensions at Jackal Advisory and is recognised as one of the country’s leading experts on the regulator and the scheme funding process.
Most economic commentators are now upgrading their growth forecasts on the back of a steady flow of positive news over the last few months with increased activity in the manufacturing, construction and service sectors. Mark Carney, the Governor of the Bank of England has just announced upgrades in growth predictions from 1.4% to 1.6% for 2013 and from 2.5% to 2.8% for 2014. He considers that the recovery has finally taken hold and that the improvement has now to be sustained. Read more »