Our briefings provide regular updates on Defined Contribution pension issues.
2023CloseDC briefing, November 2023 – Autumn Statement
The Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement on 22 November 2023. This briefing contains several key announcements, including a ‘pot for life’ and Lifetime Allowance changes. We discuss these changes in detail and consider their impact on DC pension provision.Read moreDC briefing, March 2023 – Spring Budget
In the Spring Budget of 15 March 2023, the Chancellor announced some of the most significant changes to pensions tax legislation in a decade. This briefing sets out the changes to pensions tax relief and suggests a number of actions to consider.Read more
2022OpenDC briefing, December 2022 – A decade of auto-enrolment
We have just passed the 10-year anniversary of auto-enrolment (AE), arguably one of the most significant changes to the UK’s pensions landscape in recent times. In this briefing, we reflect on the successes of AE, while considering what more could be done.Read moreDC briefing, July 2022 – Easing the cost-of-living crisis for employees
With inflation hitting a new high in May 2022, many people are suffering from a marked deterioration in their standard of living. This briefing outlines information and services that First Actuarial provides to help employers ease the impact of the cost-of-living crisis across their workforce.Read more
2021OpenDC briefing, July 2021 – New responsibilities for trustees of small DC schemes
The DWP has issued an update on planned changes around small DC trust-based schemes and DC sections of hybrid schemes. This briefing focuses on those areas requiring immediate attention – the annual value for money assessment and chair statement that trustees are required to prepare.Read moreDC briefing, May 2021 – Salary sacrifice
Introducing salary sacrifice for the payment of pension contributions can result in a win-win outcome, with National Insurance savings for employers and employees alike.Read moreDC briefing, April 2021 – ESG
Since October 2019, trustees of DC schemes and those with DC AVC sections have faced new regulatory ESG requirements. Larger pension providers are now putting ESG at the forefront of their investment propositions. This briefing explains why ESG will continue to have a material impact on all pension arrangements.Read moreDC briefing, March 2021 – The end of small DC trust-based schemes?
Recent proposed changes to small DC trust-based schemes (or sections) with less than £100m in assets may have a significant impact. This briefing explores the background and the decisions that will need to be made – which could result in modifications or wind-up for these schemes and sections.Read more
2020OpenDC briefing, April 2020 – Coronavirus Job Retention Scheme
On 26 March 2020, Government published guidance on the Coronavirus Job Retention Scheme. This is designed to support employers whose businesses have been severely affected by Covid-19. It is a grant from the Government that does not need to be repaid.Read moreDC briefing, April 2020 – Covid-19: 9 key pension considerations
In our DC briefings, we will be monitoring how the Covid-19 pandemic is impacting sponsoring employers, trustees and DC scheme members. In this briefing, we identify nine actions you may want to consider taking.Read more
2019OpenFirst briefing, January 2019 – Auto-enrolment update
April 2019 will bring two updates to auto-enrolment regulations – the last of the planned increases in contribution phasing, and changes in qualifying earnings and other limits. Read on for further details in our latest First Briefing.Read more
2018OpenFirst briefing, January 2018 – Auto-enrolment review
Although the automatic enrolment regime is not yet fully rolled out, the DWP has already carried out a review. The results of this review, which examined coverage of automatic enrolment, how engagement can be improved and future contributions have just been published. We provide a digest of the review’s proposals and findings, assess the…Read more
First Actuarial case studies
The Kennel Club
First Actuarial's actuarial valuation placed a sensible value on liabilities and removed the risk of unaffordable employer contributions.Read More...
First Actuarial helped RSPB wind up its DB scheme and select a DC provider with strong ethical values to meet all employees’ concerns.Read More...
Care services company Bolton Cares turned to First Actuarial to help set up a competitive and affordable DC pension scheme for its staff.Read More...