Organisations participating in the Social Housing Pension Scheme (“SHPS”) will no doubt be experiencing that sinking feeling, perhaps mixed in with a little déjà vu, as the results of the 2011 scheme valuation hit their desks this month.
The communication will have brought the unwelcome news that the ‘on-going’ funding deficit has increased from £663m to £1,035m as at 30 September 2011 (having increased from £283m in 2005). Read more »
I noticed the announcement last week that the Scottish Federation of Housing Associations Pension Scheme (“SFHAPS”) has been renamed the Scottish Housing Association Pension Scheme (“SHAPS”).
I’m sure the strategic removal of the “F” from the acronym will re-assure members about why their pension scheme unding has allen from just below eighty-ive percent to less than sixty-ive percent in 3 years and less than ifty percent on the PP(F) basis!! Read more »
I remember with some fondness Denis Norden and his clipboard each Christmas taking us through another collection of bloopers and mishaps. The strange thing was that the title was a bit misleading as it quite clearly never was alright on the night.
Early in 2010 I made some predictions about the likely outcome of the SFHA pension schemes actuarial valuation and unfortunately when the results were made public these proved to be all too accurate . As I mentioned in the later blog you really didn’t have to be Derren Brown or own a fully functioning crystal ball to arrive at the results. Read more »
In July 2009 the Pension Trust made the announcement that the Scottish Voluntary Sector Pension Scheme (SVSPS) would close to all future accruals from the end of March 2010. This caused great consternation among the membership and most have been grappling with the difficult issues associated ever since. Read more »