Press Releases

Hymans Robertson is launching the LGPS’s first interactive online learning academy, enabling LGPS Committees and Pension Boards to undertake all their general training needs. The new platform provides access to all the learning modules Committee and Boards are expected to undertake in one centralised hub for the first time. It is also suitable for some Fund officer training. The online learning academy will be easily accessible, cost effective and available on demand to enable LGPS Committee and Boards to meet their knowledge and training requirements at a time and location convenient to them.

Hymans Robertson, the leading pensions and financial services consultancy, has appointed Philip Pearson as Head of LGPS Investment. Philip is a senior investment consultant who has helped to develop client consulting and strategic focus on the LGPS since joining the firm and brings over 20 years of investment experience to the role.

Commenting on the DWP Consultation incorporating performance fees within the charge cap, William Chan, Head of DC Investments, Hymans Robertson says:

"We welcome the DWPs consultation on performance fees within the charge cap as our main priority has always been the delivery of good long-term outcomes for members. We believe there are attractive opportunities in private markets and illiquid assets to support this goal, but are worried that the direction of travel in terms of regulation may prohibit, rather than promote, access to these markets which can enhance value."

Commenting on today’s TPR Climate Change Strategy, Lisa Deas, Actuary says:

“We welcome The Pensions Regulator’s climate change strategy providing insight on the guidance and support trustees can expect over the next few years to help them manage climate risk and opportunities effectively. In particular, we welcome TPR’s plans to bolster the climate change content on the trustee toolkit which we had advocated in our response to the DWP’s consultation on ‘Taking action on climate risk: improving governance and reporting by occupational pension schemes’."

Only a quarter (27 per cent) of DB pension members feel very confident about making retirement decisions while over a third of DB members don’t feel knowledgeable about their DB pension, according to a new survey by Hymans Robertson in association with like minds.

“We are pleased to see that the FCA has listened to the industry and softened its stance on what would be viewed as ‘advice’. This is a big relief given the wording in the consultation was detrimental to member education and informed decision making. While the consultation published previously by the FCA looked generally helpful in its aim to help drive up advice standards across the board, it contained highly contentious wording which was of concern to trustees and sponsors of DB schemes."

First launched last October, funding from the Bursary continues to prioritise supporting 16-25 year olds into jobs, volunteering, and further education as well as financially supporting young people at the senior end of school.

With almost 15 years’ experience in the pensions industry, Shabna joined Hymans Robertson in 2006 and is a qualified actuary. Shabna has an in-depth understanding of both the DC and DB markets, specialising in provider selection exercises, implementing new pension arrangements, pension scheme design and member communications.

“Buy-ins/buy-outs and longevity swaps have now insured £300bn of risk from DB pension schemes in the last 14 years, since this market took off in 2007. Interestingly, over half of that amount (over £150bn) has been transacted in just the last four years, which is a clear sign of the acceleration of growth in this market."

“We welcome TPR’s consultation on the first phase of its consolidated code project which combines 10 of the existing Codes of Practice into a web-based 51 module system and addresses the requirement of the IORP II regulations for all schemes to have an “effective system of governance”.

Commenting on what how the CMA rule has been taking effect, Samora Stephenson, Senior Investment Consultant, Hymans Robertson, argues that the ruling is working:

“The purpose of the CMA’s call to retender fiduciary management services was for schemes to not only demonstrate good governance but to ensure that fiduciary management provides value for money for the scheme. It is a concern, then, that over a third (38%) of schemes are estimated not to have started the ball rolling on this."

Half (50%) of scheme trustees surveyed cited key aspects of the project, including data cleansing and project management, as being particularly difficult, the findings from the research revealed. The leading pensions and financial services consultancy warns that wind up projects are among the most costly and complex projects most schemes will ever undertake. It is vital that all options and challenges are understood and considered to ensure success of the project and avoid poor member outcomes.