Punter Southall Head Office
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, an ever greater choice of asset classes, investment approaches to consider and additional governance considerations with which trustees need to comply.
Sign up here.
Ten years on from the start of the credit crunch, chief investment officer Tom Becket paid a visit to the site of the Golders Green Branch of Northern Rock, the UK’s most notable casualty which collapsed in February 2008. Standing on the spot where savers queued to withdraw their savings, he asks what lessons, if indeed any, have been learned for central banks and investors since then.
Watch the video here.
As many of us enjoy the August break, only the most organised pension scheme members will be spending their time on the beach considering their tax return or pondering the annual allowance, which restricts the amount of tax-relieved pension savings that can be made each year.
However, many higher earners need to take action now; otherwise they may need to meet any annual allowance tax charge out of their non-retirement savings rather than through their pension scheme. This means that those responsible for pension schemes should have the annual allowance at the top of their current agenda.
For the full blog post, click here.
On 12 July 2017, the Supreme Court ruled in the long-running case of Walker vs Innospec that an exemption in UK law that allowed occupational pension schemes to maintain historical discrimination between survivors’ benefits for same-sex and opposite-sex couples was incompatible with EU law.
The judgement will have significant implications for those pension schemes that had been relying on this exemption.
Click here for the full briefing.
It has been 10 years since the term ‘buy-in’ was coined. Initially, buy-ins were for all pensioners in a scheme. As the market has evolved and schemes have become more sophisticated in their approach, subsets of pensioner liabilities are now being insured.
We are working with clients to build bulk annuity purchases into their journey plans to get them to buy-out efficiently. This approach brings with it questions and decisions for trustees.
Our latest de-risking bulletin, here.