ACA – Association of Consulting Actuaries

Public service pension schemes – response to consultation on changes to the transitional arrangements to the 2015 schemes..

Amongst other doubts, our response expresses a concern that those members in the period to 31 March 2022 who are not covered will constitute a later claim requiring a further backdating exercise. This is a possibility, as the cost of Read More …

To be of maximum benefit to trustees, scheme members and sponsors, the ACA believes the requirements will need to be flexible and to develop as knowledge and experience of climate risk management develops.

The proposed elements (Charges & Costs, Investment Performance, and Services) are a good starting point to assess value for money (VFM) and provides consistency of assessments in terms of core factors. However, it will be important to compare like with Read More …

We responded on the provisions in the Finance Bill relating to Collective Money Purchase arrangements (previously known as CDC schemes) as below

ACA registers concern that schemes who provide illustrative transfer values and/or an indication of the income this may provide outside the scheme may need to change their retirement process or risk providing advice.

ACA says the objectives of the dashboard will be better met by getting a reasonable amount of information available as quickly as possible, rather than waiting until almost everyone can expect to find all of their pensions.

ACA supports efforts to conclusively resolve the issues with RPI. However, given how entrenched the use of RPI is in financial markets, we believe that any discussion to amend RPI should take into account the financial consequences to those exposed. 

The ACA’s response to this consultation was made online – see…

In our response to the DB Funding Code consultation, we are generally supportive of the proposals outlined in the consultation, but note that many of the key details are yet to be defined and these details are likely to make Read More …