First Briefing, May 2023: DC AVC review

Some regulations can either cap or prohibit early exit charges for members of certain occupational Defined Contribution (DC) schemes. TPR seems keen to ensure that DC additional voluntary contribution (AVC) arrangements comply with these restrictions, as demonstrated by a new question in the 2023 scheme returns.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.