Author Archives: First Actuarial

First Briefing – New IAS19, January 2012

Summary The International Accounting Standards Board (“IASB”) has made a number of changes to IAS19: Employee Benefits. The new version will be effective for accounting periods beginning on or after 1 January 2013 and the key changes are: all companies will be required to immediately recognise all gains and losses on the balance sheet (now referred to […]

Investment Briefing: Current opportunities in Bond Markets, December 2011

Recent market conditions present opportunities to long-term bond investors. In this briefing we consider two particular opportunities that we believe are relevant to pension schemes, which are briefly summarised here. Switching from fixed-interest gilts to corporate bonds The yields on long-term fixed-interest gilts has fallen sharply in recent months which has resulted in a widening […]

Cross Keys Homes awarded Pension Quality Mark Plus

Cross Keys Homes, Peterborough’s largest housing association, has become the first employer offering its staff membership of the Defined Contribution section of the Social Housing Pension Scheme (SHPS) to obtain the Pension Quality Mark. Lisa Glendye, head of HR at Cross Keys Homes, said: “We are delighted to have been awarded the Pension Quality Mark […]

First Actuarial Strengthens Investment Consulting Practice

Mike Smaje has joined First Actuarial LLP as Director of Investment Services. Formerly a senior investment consultant and actuary with Towers Watson, Mike has 19 years’ industry experience. He will be based in First Actuarial’s Leeds office. First Actuarial Founder, Michael Hulme-Vickerstaff commented: “We are delighted to welcome Mike on board. His experience will be […]

First Briefing – PPF Levy 2012/13, November 2011

Introduction In the PPF Levy 2012/13, June 2011 Briefing we looked at the new framework proposed by the PPF for the 2012/13 levy. The PPF has now issued the draft levy determination for the 2012/13 levy year. The determination provides detail on the proposed operation of the levy, sets out the levy parameters and proposes […]

First Briefing – Resticting Pension Tax Relief

Introduction In the “Restricting Pensions Tax Relief, Oct 2010” Briefing we covered the Government’s proposals for changes to the pension tax regime insofar as they were known at that stage. Legislation has now been enacted to effect those changes and this Briefing provides an update on the position and focuses on some of the finer […]

Press release – sixth straight year of substantial growth and new partner

First Actuarial announces substantial growth and a new partner First Actuarial, a leading independent provider of pension consulting services, announced revenue growth of 22% for the year ended 31 July 2011, and the promotion of Kate Bailey to partner. Consistent growth This is the sixth year of double digit revenue growth for the firm since […]

First Briefing – Identifying the statutory employer

Introduction The Pensions Regulator (“the Regulator”) has issued a statement on the importance of knowing who legally stands behind a pension scheme with defined benefits, the ‘statutory employer’, and actions that trustees may need to take to establish who meets the definition of statutory employer. From November this year, the Regulator will require trustees to […]

Employee Benefits Magazine 2011 Award

First Actuarial were part of a team of advisers to the Institution of Civil Engineers who won the Employee Benefits Magazine 2011 Award for most effective pensions strategy. During 2009 and 2010 the Institution reviewed its options for providing pension benefits to its employees and through a programme of communication with scheme members and negotiation […]

PMI award won for 4th time in a row

We are pleased to join the Pensions Management Institute (PMI) in congratulating Vincent Penfold on winning the PMI prize for the best examination performance for the 4th time in a row! At First Actuarial we take pride in the quality of our staff and the admin services we deliver. We are delighted that one of […]