First thoughts on impact of interest rates cut on charities

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August 4, 2016 at 17:54

For the first time since 2009 the Bank of England has moved interest rates, not up but down, to 0.25%. What does this mean for charities? Here are my first thoughts on this important economic decision.

EU Referendum: What could this mean for charities?

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June 6, 2016 at 17:10

As the 23rd June appears closer and closer this Europe’s Final Countdown song has never felt more relevant as the UK public decides whether they will be voting to remain or leave European Union (EU).

Is the SORP FRS 102 working for you?

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May 5, 2016 at 17:46

On the 4th May the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator (OSCR) published a research consultation on charities Statement of Recommended Practice (SORP) FRS 102.

Section 75 debt reform – an opportunity we cannot afford to miss

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May 26, 2015 at 15:59

Last Friday saw the close of the Department for Work and Pension’s call for evidence on (the catchily titled) Section 75 Employer Debt in Non-Associated Multi-Employer Defined Benefit Schemes. I assume that most readers of this blog know what non-associated multi-employer defined benefit schemes are but for the uninitiated, these are scheme including more than one employer that are unrelated (i.e. are not owned in common or under common control) where employees are promised a specific monthly payment on retirement. What is the problem? Like all employers, many charities have seen their defined benefit schemes go from surplus to substantial […]

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 […]

Easing the pension burden on charities, just slightly…

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June 15, 2012 at 11:59

Having gone through one or more tough pension valuations in the last few years, many charities have put their schemes on a financially stronger footing by reducing benefits, higher contributions, long term recovery plans and the pledging of assets. Those facing a valuation in the last 12 months or in the near future could be forgiven for being disheartened for the deficit stubbornly refusing to reduce. The primary cause is nothing to do with investments as most asset classes have delivered some impressive performance over the last few years. Instead it is the valuation of the liabilities, which are based […]