We're working with our pensions advisers Isio to keep the sector up to date on key areas affecting housing associations.
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.
You can contact Isio directly at:
Public Service Lead, Housing
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.
Alongside Isio, we've drafted a letter you can use to contact your Local Government Pension Scheme fund to discuss employer flexibilities.
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.
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.
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.
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.
We responded to the Pensions Regulator’s funding code of practice consultation on Defined Benefit pensions.
Recent developments mean employers have more options for managing Local Government Pension Scheme assets and liabilities.