A glimpse into the future of UK pensions
Alison Hatcher caught up with Asset TV, as she outlined the shift towards a market of “mega schemes” and the resulting governance challenges. Check out the interview below, where she argues for a new, collaborative mindset within the industry and a focus on acquiring the right skills for trustees to manage this transition and deliver […]
Mike Birch appointed to Scottish Widows Master Trust
Scottish Widows have announced that Mike Birch has joined its Master Trust as a trustee. Mike joins their trustee board that includes Jonathan Reynolds (chair), Joanne Fairbairn, Cheryl Black and Gerald Wellesley. On his appointment, Mike was delighted with the news: “Scottish Widows Master Trust is on an ambitious growth trajectory, so it’s a great […]
My fond farewell
It’s been a great ride for me at Vidett during almost 10 years at the firm. We were originally known as HR Trustees, when I joined the company straight from a career in banking. Back then I was still a trustee of the Bank of New York Hybrid Pension Plan, where I had served for […]
Careers in pensions: the old and new
When we started our careers in pensions in the 80s and 90s, the landscape was vastly different. Back then central Edinburgh and Glasgow were crammed with Scottish banks and insurance companies; so it was a bit of a no-brainer to start work in that sector. Although there has been huge consolidation in the financial services […]
The great DB debate
Despite the decision to join a master trust sitting with a pension scheme’s sponsor, the trustee’s view remains important. Pension scheme journeys are a partnership between sponsors and trustees; both wanting the best outcomes for scheme members. As responsible trustees, we need to consider which schemes the master trust approach might be right for and […]
Death-in-service: Inheritance tax & Budget impacts
Rachel Reeves’ Autumn Budget has aimed to “make the inheritance tax system fairer” by making changes to death-in-service rules and inheritance tax, such as adding tax to unspent pension pots. Will death-in-service payments paid via discretionary trusts be affected when the changes go into effect on 6 April 2027? How will you be affected? We […]
Mark Cliff appointed chair of FMT
Mark Cliff – a Vidett client director – will join joining Fidelity Master Trust (FMT) board in January 2025. Taking over the FMT responsibilities from the departing Kim Nash in April 2025, Mark will bring his focus on large complex defined benefit (DB) and defined contribution (DC) pension schemes. He joins FMT from Legal & […]
Group life trusts: 6 mistakes for employers to avoid
Many employers run their own group life trusts, dealing with death in service claims in house. Whilst this arrangement can work, there are six common mistakes that employers need to avoid to ensure they run effectively. Not keeping the trust documentation up to date If you set up your group life trust some time ago, […]
Navigating the pension maze: 10 predictions for 2024
As change ripples through the pensions sector, Gillian Graham shines a light on some of the key transformations companies, pension schemes, and trustees could expect in the coming year. With the landscape shifting rapidly, the value of professional trustees will become even more apparent. Appointing experienced professionals to guide your scheme through the uncertainties of […]
Master trust selection & transition
This case study displays how we helped a pharmaceutical company with a hybrid scheme select and then move to a DC master trust. Our trustee training and four stage selection process allowed our client to select the master trust that best suited their scheme’s needs.
What to ask when choosing a master trust pension scheme
It’s not just about investments – support and communications are vital too, not to mention governance. It’s easy to think the key question revolves around investment options, fund mapping, etc. These are important, of course, especially if existing pension scheme trustees have to sign off on a bulk transfer. However, there are other key considerations, […]
DC section transfer to master trust – RSPCA Pension Scheme
As Chair of the Trustee we were involved with the selection of the master trust. As secretary to the trustee, we helped manage the transition of the DC section to the master trust and its subsequent wind up.