Pension Protection Levy Consultation

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June 9, 2014 at 16:51

The Pension Protection Fund (PPF) was set up in 2005 to guarantee a proportion of the retirement income of Defined Benefit (DB) Scheme members under the event of insolvency of their sponsoring employer(s). The fund is sustained by an annual levy applicable to all schemes eligible for protection under the PPF. This levy is determined by a combination of scheme specific and risk based factors. The PPF is consulting on plans for the pension protection levy over the next three years due to a number of factors: The PPF have developed a wealth of insolvency experience over the last nine […]

Mergers during the recession; why weren’t there as many as expected?

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January 15, 2014 at 09:24

In the wake of the launch of our most recent survey in the ‘Managing in a Downturn’ series, we take a look at what the last five instalments have told us about the scale and form of mergers in the sector. The decision to merge in the for-profit sector is ultimately motivated by the fiduciary duty to maximise shareholders’ ROI. One might expect a similar logic to apply to the charity sector; mergers enable greater resource for maximising beneficiaries’ benefits. Indeed, in the heyday of the economic recession in 2008, many expected a larger number of charities to merge as […]

Charities: growth or sustainability – why it matters for their pensions

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December 3, 2013 at 13:29

As the House of Lords conducts the second reading of the Pension’s Bill today, there are many valuable points being made by industry and stakeholder representatives. These include the ‘unrivalled opportunity’ to create single-tier state pensions; more changes to auto-enrolment legislation; further discussion on pensions charges and a look at adapting legislation concerning fund transition to take into account the current transient workforce. (Our own recent and upcoming work on some of these issues is covered in our latest blogs on auto-enrolment and our consultation response to pension’s charges) However, while these high-level debates rage around us, CFG are concerned […]

Pension charges: Is transparency enough?

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December 2, 2013 at 20:21

‘Hands off our pensions’ they cried… WHICH Campaign ‘Don’t dumb down pensions’ she qualified… Ross Altman BBC Today Program ‘Don’t mess with our free markets’… Various industry bodies Amongst these battle-cries, where does CFG stand on governments recent ‘fairer workplace pensions: a consultation on charging’? First off, why is it important? There are approximately 25000 charity employers, 22000 of whom are small employers who must comply with auto-enrolment legislation from 2015 onwards. We have been working to support the sector through this new legislation as it threatens to prove costly for many employers who have limited experience of pension schemes. This […]