Spence & Partners
is a privately owned UK firm of actuaries, pension consultants and administrators that operate throughout the United Kingdom with a focus on providing bespoke pensions support to third sector organisations.
Director and company owner, David Davison, leads the Public Sector, Charities and Not for Profit pensions practice, heading an experienced team familiar with the issues organisations face and with access to the modeling tools and communications skills necessary to guide Boards through a variety of solutions.
David is a regular commentator on the pensions issues facing schemes in this sector including, for example, click here for FRS17 and pension accounting, auto-enrolment, Local Government Pension Scheme participation, pension schemes limiting merger and the issues with ‘last man standing’ and ‘multi-employer’ pension schemes.
David offers clients advice to help Boards understand their current situation and what options are open to them as well as how these will affect the organisation, the scheme and employees.
An active member of the third sector finance community David has worked alongside the Charity Finance Group and ICAS in lobbying for an open consultation to find sustainable solutions to the pension and finance problems often experienced by organisations in the sector. David is also on Pension Minister Steve Webb’s DWP Working Party considering future options for multi-employer pension schemes. David is a regular commentator and speaks at conferences providing an expert voice to the issues faced.
For Charities and Third Sector bodies operating their own pension scheme either as a stand-alone arrangement or in conjunction with another arrangement we can provide a full range of actuarial, administration, data, consultancy and communication services for employers, charity trustees and scheme trustees.
The complex financial implications of participating in defined benefit, and particularly multi-employer schemes, are becoming an issue for many organisations and they are increasingly finding that the 3rd party advice provided to the pension scheme does not equip the charity with the specific information and corporate perspective they need to fulfill their duties.
David and our Public Sector Practice team advises on all aspects of pensions issues that affect Public Sector Pension Schemesthroughout the UK, such as the Local Government Pension Scheme, Police Pensions, Firefighters, NHS, Teachers, and the Principal Civil Service Pension Scheme.
We also advise a number of Non Departmental Government Bodies which operate trust based private sector type pension schemes.
The main areas of work in our Public Sector mandate include:
- advice on all aspects of pensions that occur under the PPP/PFI outsourcing arrangements especially where the “Fair Deal for Staff Pensions” applies
- pension risks involved in an outsourcing contract
- redundancy benefits of employees transferring from the public sector
- negotiation of bulk transfer terms
- wording of admission agreements
- obtaining and maintaining GAD passports
- accounting calculations and disclosures under FRS17
In particular in relation to LGPS we advise employers on a number of issues:
- broad comparability of private schemes with the LGPS
- on-going operation of admission agreements
- advice on the termination of an admissions agreement
- advice on employer discretions
- advice on policy statements
- administration support
- communications for employees
To discuss any of the services offered contact David Davison on 0141 331 9942 or e-mail at firstname.lastname@example.org or understand the pension issues facing your organisation by reading some of David’s recent blogs.