Still waters hide turbulent times

Time spent on a narrow boat slipping along Britain’s restored canals is to experience a pace of life from a time gone by.

The clock ticks less insistently as you busy yourself with ropes or the helm to be part of what was once at the heart of Britain’s roaring industrial revolution. Yet the history of our canal network is a symbol of the kind of change we are experiencing at the moment.

Investment and engineering flair turned Britain’s waterways into the principal trade route for the raw materials, manufactured goods and commodities connecting our major cities to the rest of the country and the world beyond.

Click here to read the full blog.

Corporate Bulletin: the debate on how to measure scheme funding liabilities

“Pension scheme liabilities are at all time highs” and “gilt yields are at all time lows” are some of the current headlines within the defined benefit (DB) pension world. You could be forgiven for concluding that UK DB pensions are in a systematic crisis.

Should liabilities and gilt yields be as closely linked as the headlines suggest? This quarter, we focus on alternative discount rate methodologies for funding purposes and take a look at expected accounting assumptions as at 30 September 2016. We also provide our usual updates on PPF levies and the buy-out market.

Click here to read the full quarterly update.

Daniel Adams

Currency: for every action, there is an equal and opposite reaction

Sir Isaac Newton is one the most celebrated scientists of all time. Probably his two most significant contributions were; firstly, the theory of colour, in which he observed the refraction of light through a prism separating the light into its constituent spectral colours; secondly, is of course, his laws of motion (and by extension the essence of gravity), which together provide the foundation for modern day physics.

To read the full blog, click here.

England and Wales Local Gov’t Pension Scheme: next valuation underway

Valuation of the Local Government Pensions Scheme (England and Wales) is carried out every three years, with the calculations now underway for 31st  March. This note looks at the likely outcome of the 2016 valuation, together with the actions that employers with Admission Bodies in one or more of the individual LGPS funds, might wish to consider.

For the full briefing note, click here.

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Trustee Knowledge & Understanding (TKU) Course

For trustees of defined benefit schemes

It is now over ten years since the Trustee Knowledge and Understanding (TKU) requirements were introduced. Since, then the range of topics that trustees need to understand has become much wider, with new concepts such as integrated risk management for trustees to grapple with, an ever greater choice of asset classes and investment approaches to consider and additional governance considerations for trustees to comply with.
Punter Southall’s TKU courses are aimed primarily at new trustees (or those who would like a refresher) and will take trustees through the basics of the Pensions Regulator’s TKU scope guidance as well as providing an insight into some of the experiences and challenges that trustees are likely to face. The course will be interactive, with plenty of practical examples and opportunities for discussion and questions.
The course will cover:
Introduction to pension schemes: the parties involved in pension schemes and some of the legislative background to pensions.
Trusts and trusteeship: the roles and responsibilities of trustees and key trustee powers and discretions
Funding and valuations: the types of actuarial valuations and the Pensions Regulator’s expectations for funding pension schemes, including integrated risk management.
Introduction to investment: different asset classes, the risks and rewards associated with them and the key principles in setting an investment strategy.
Managing a pension scheme: preparing for a typical trustee meeting and key governance and whistleblowing requirements.
The course is aimed at the trustees of defined benefit (DB) schemes, but will also touch on the key issues relating to defined contribution (DC) AVC funds for which many DB trustees will also be responsible.
Price: £495 – to include all course materials, lunch and refreshments throughout the day

Register for this event

Agenda

9.30am to 4.30pm

Location

Punter Southall Head Office
11 Strand
London
WC2N 5HR

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