Global Vision, Local Wisdom
Global Vision, Local Wisdom
Aviva have announced that they will no longer be providing administration and actuarial services to their Defined Benefit pension schemes from 30 June 2019.
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The International Accounting Standards Board ("the IASB") recently issued amendments to IAS19 Employee Benefits, which will effect the accounting treatment of certain "Special Events" (amendments, settlements and curtailments) in defined benefit pension plans.
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Until relatively recently, the media has regularly reported that people are living longer than previously anticipated, as mortality rates continued to fall; to put it another way, average life expectancy has been continuing to increase.
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It is important for pension scheme trustees to minitor whether the fees charged by their investment manager are reasonable.
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The 2018 Isle of Man Budget, which was punblished on 20 February, set out a significant number of changes to different aspects of pension provision.
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