![]() |
Hymans Robertson comment on the DWP’s Consultation on Broadening the Investment Opportunities of DC Pension Schemes |
Callum Stewart, Head of DC Investment, Hymans Robertson, says: “It is good to see the Government’s ongoing focus on facilitating investment from DC schemes in a wider universe of opportunities including illiquid assets. In particular, we are supportive of the requirement to require trustees to put in place formal policies on illiquid assets in their statements of investment principles. “However that is not enough and we are very disappointed in the lack of focus on materially moving the dial away from emphasis on cost and governance reporting requirements that add little value, to wider value and opportunity. As an industry we will fail DC savers if we don’t focus on areas that can really move the dial in terms of members’ retirement outcomes. Requiring reporting on asset allocation including illiquid assets in the annual Chair’s Statement will, in our view, add further costs and pressure on trustees, detracting from a focus on bigger picture areas that can really improve these outcomes. This will perpetuate the current over-emphasis on minutiae detail versus bigger picture areas. When we responded to the original consultation, we highlighted the overlap in reporting requirements for the implementation statement which will provide transparency on how policies with regard to illiquid assets are being put into practice. It’s disappointing that this has not been addressed in the response, and trustees will have overlapping reporting requirements going forward.
“As an industry, we need to move emphasis away from governance requirements that don’t add value, to addressing bigger picture issues. This includes not tinkering around the edges of regulation – we need much bolder action to improve outcomes for DC savers and we will be responding to the latest consultation with this in mind.” |
|
|
|
Actuarial Systems Manager | ||
South East / hybrid 3dpw office-based - Negotiable |
Actuarial Systems Consultant | ||
South East / hybrid 3dpw office-based - Negotiable |
Multiple Pensions Contracts | ||
London/Scotland/Remote - Negotiable |
Actuarial modelling expert - life ins... | ||
UK flex / hybrid 2-3 dpw office-based - Negotiable |
Professional Trustee | ||
London or Manchester / Hybrid 3dpw office-based - Negotiable |
Professional Trustee | ||
London or Manchester / Hybrid 3dpw office-based - Negotiable |
Products Expert - Life Insurance | ||
Scotland / hybrid 2 days per week office-based - Negotiable |
Senior Capital Modelling Actuary | ||
London - £150,000 Per Annum |
Senior Pricing Actuary | ||
Fully remote - Negotiable |
STAR EXCLUSIVE CONTRACT: GI model val... | ||
Flex / hybrid 1 dpw office-based - Negotiable |
STAR EXCLUSIVE: GI model validation lead | ||
Flex / hybrid 1 dpw office-based - Negotiable |
NEW: In-house Pensions Actuary role | ||
London or North East with flexi working - Negotiable |
Scheme Actuary | ||
South East / hybrid 2 dpw in the office - Negotiable |
Varied Pensions Actuarial Manager | ||
UK-wide / hybrid 2 dpw office-based - Negotiable |
Investment Consultant | ||
South West / hybrid 2 dpw office-based - Negotiable |
Senior Actuarial Trainee - BPA | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
BPA Pricing Lead | ||
Flex / hybrid with 2 days p/w office-based - Negotiable |
BPA Pricing Actuaries | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
BPA Pricing Senior Actuary | ||
Flexible / hybrid with 2 days p/w office-based - Negotiable |
Solvency II GI Contractor - Immediate... | ||
London / hybrid - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.