Pensions

We're working with our pensions advisers Isio to keep the sector up to date on key areas affecting housing associations.

Our pensions advisers

Formerly KPMG’s UK pensions practice, Isio is one of the country’s leading independent pensions advisory firms. Isio is known and respected for its agility and the team has more than 1,000 client relationships, small to blue chip, and public to private. With more than 500 people and eight regional hubs, Isio combines actuarial, third party administration, investment consulting and Defined Contribution expertise.

Isio has a public service pensions team, made up of pensions professionals across the UK who specialise in providing advice to public and third sector clients, including housing associations. Isio directly advises more than 50 housing associations in the UK of a variety of sizes. Through their work and industry standing, Isio also have strong relationships with the Local Government Association, the Ministry of Housing, Communities and Local Government, the Government Actuary’s Department and TPT Retirement Solutions.

Working with Isio, we've carefully considered how housing associations can manage their pension arrangements to enable their business aims and objectives. We have a commitment to work together to look at the best approach to supported pension services and so will be collecting feedback from users as part of this process. If you have any views on what you find useful, please get in touch with us.

Designed to simplify the language around pensions, the Isio team can work with you to provide expert advice and reduce the amount of time spent by housing associations researching the various types of pensions.

Why use Isio?

An essential feature of the website is how easily accessible it is from various devices including mobile phones and tablets. This gives you greater flexibility in the ways that you are able to manage your pensions.

With this service, housing associations will:

  • Be able to find the more economical pensions options for their organisation, using tailored pensions insights.
  • Have exclusive access to training materials for actuarial valuations and pensions accounting.
  • Have use of member communication templates.
  • Access to a personalised portal.

Key contact

Katy Taylor
Public Service Lead, Housing
katy.taylor@isio.com
07584 152 226

Clearer pensions

Since 2016, Isio (as KPMG) ran a pensions service called Clearer Pensions with our support. Designed to meet the specific needs of housing associations and to be high quality and shared cost, it offered access to a members’ portal and targeted advice modules.

As part of a planned 2020 refresh of Clearer Pensions, we are currently reviewing what Clearer Pensions should look like going forward. We'll conclude this review by 1 July, and in the meantime the Clearer Pensions service continues for current members. In addition, new advice modules will be made available, including in relation to your pensions disclosures in the 31 March 2020 financial statements.

Further guidance on the latest pensions developments can be found below.

Understanding your defined benefit pension obligations as an employer

Short term high inflation is likely to mean that the next actual pension increase applied to benefits currently being paid, as well as those in deferment, will be higher than currently built into valuation assumptions.

How housing associations can support their employees in the cost of living crisis

Isio have identified some easy actions a housing association can implement to help employees in these challenging times.

2022 FRS102 reporting

The 31 March 2022 year end is approaching and, based at the time of writing, the FRS102 balance sheet position for housing associations with LGPS and SHPS exposure is likely to have improved for many since March 2021, but the Income Statement for next year is likely to have worsened.

Upcoming Local Government Pension Scheme valuation – 31 March

The next LGPS valuation takes place at the end of this month, 31 March 2022, with changes to employer contribution rates implemented from 1 April 2023, Isio explain what this means for you.

Social Housing Pension Scheme valuation results – next steps for housing associations

With a significant increase in contributions due from April 2022, we consider what the results might mean for your organisation more widely and the steps you can take to review your pension strategy and form your longer term response.

Local Government Pension Scheme risk management – what to consider when managing risk

Recent developments in Local Government Pension Scheme legislation, mean employers may have more options for managing assets and liabilities in their fund, from closure, to future accrual.

Social Housing Pension Scheme 2020 valuation results – what they might mean for housing associations

We've summarised the recently announced Social Housing Pension Scheme 2020 valuation results and explored what they might mean for housing associations.

Engaging with your Local Government Pension Scheme Fund - actions for housing associations

Alongside Isio, we've drafted a letter you can use to contact your Local Government Pension Scheme fund to discuss employer flexibilities.

What the upcoming Social Housing Pension Scheme valuations results could mean for housing associations

The expected deficit from the Social Housing Pension Scheme funding valuation results might lead the Pensions Regulator to ask employers to pay more and impact housing associations.

Pensions accounting guidance

The NHF, in partnership with other sector leaders, has issued guidance to enable housing associations to defined benefit account the Social Housing Pension Scheme and the Scottish Housing Association Pension Scheme for the first time.

Defined Benefit pensions consultation – NHF response

We responded to the Pensions Regulator’s funding code of practice consultation on Defined Benefit pensions.

Local Government Pension Scheme update

Recent developments mean employers have more options for managing Local Government Pension Scheme assets and liabilities.

Social Housing Pension Scheme funding valuation and new Defined Benefit funding code

An update on the Social Housing Pension Scheme funding valuation and the potential impact on employers, plus the Pensions Regulator’s new funding code for Defined Benefit schemes.

Please note: The Social Housing Pension Scheme (SHPS) is run by TPT Retirement Solutions. You can find out more about the Defined Benefit and Defined Contribution schemes on the TPT website.

New Defined Benefit funding code - webinar

The NHF and Isio hosted a webinar on the new Defined Benefit funding code, with the Pensions Regulator and Regulator of Social Housing. You can watch a recording of this if you missed it.

Who to speak to

John Butler, Policy Leader