Around 50 professionals from South Wales and the South West attended Quantum Advisory’s latest “Pensions for Breakfast” event at the Celtic Manor Twenty Ten Clubhouse. The key messages delivered at the quarterly gathering on 14 March focussed on uncertainty around Brexit and global political tension.
Providing insight into the landmark Guaranteed Minimum Pension (GMP) equalisation ruling at the end of last year, Quantum Advisory Consultant, Adam Cottrell, updated guests on the many GMP-related challenges trustees, administrators and actuaries are facing. Following the High Court ruling that all pension schemes must equalise the GMPs for men and women, Adam suggested methods companies might adopt in order to achieve this. He also answered questions from the industry about time scales, immediate actions needed and what will happen in the longer term.
Brexit was a key focus of Quantum’s Investment Consultant, Jordan Griffiths’ talk, considering the impact on UK investments. Jordan also explored how investment markets are performing particularly with widespread slowing global economic activity. He looked into activity in America, concerns over China’s economy and the possible end of austerity.
Guest speaker Luke Davies, Business Development Manager at LexisNexis, explained the importance of keeping track of pension scheme members from the initial risk assessment, through to retirement or transfer out of a scheme. Luke also highlighted why maintaining up-to-date customer data is crucial for organisations and the best approaches to use.
Stuart Price, Partner and Actuary at Quantum Advisory, said of the event: “It was great to see so many people at our latest Pensions for Breakfast seminar. Our speakers all did a fantastic job and it was very interesting to hear insights from the industry from those who know it best. While I think uncertainty was a key message to come out of the morning’s meeting, there were many positive outlooks and practical advice for companies and individuals to act upon. Our networking session after the talks allowed people to ask questions and share thoughts which is really valuable.”
The next Pensions for Breakfast seminar will take place on 28 June.