First Actuarial joins SFHA as sector associate

First Actuarial, the leading provider of pension services to UK housing associations has joined the Scottish Federation of Housing Associations as a sector associate.

Dale Walmsley, Partner at First Actuarial, said: “Our close involvement with UK housing associations, over many years, gives us unrivalled expertise of the sector, its pension schemes and the issues it faces.

"Being a sector associate gives First Actuarial the opportunity to share our in-depth knowledge and insights with Scottish housing associations through blog posts, events and other timely communications.” 

First Actuarial is a provider of pension services for defined benefit and defined contribution schemes. The firm works with more than 120 housing associations of all sizes, making it the UK sector leader in independent pensions advice to housing associations. 

With a specialist housing team in place, First Actuarial’s expertise covers the main housing sector multi-employer pension arrangements, including the Scottish Housing Associations’ Pension Scheme (SHAPS) and the Local Government Pension Scheme (LGPS). It also provides advice on single employer schemes and public service pension schemes (such as the NHS Pension Scheme).

In the next 12 months, First Actuarial expect many housing associations to be reviewing their pension strategy in light of the actuarial valuation results of SHAPS and preparing for the 2023 actuarial valuation of the LGPS Scotland. And, of course, every association needs to be confident that its pension arrangements offer value for money for both the employer and employees at all times.

First Actuarial can pinpoint the key issues for your association, help you understand the options available and guide you to making decisions that are right for your organisation.

Areas where it can help your housing association include:

• pension strategy review: Whether you use SHAPS, LGPS or another pension arrangement, First Actuarial can help you navigate the options and review costs and benefits.
• financial wellbeing: Pensions are a significant employee benefit, but do your staff understand the full value of what you offer? First Actuarial's communication packages can simplify the complexities and highlight the benefits of your pension provision.
• termination debt management: This is an important consideration with any multi-employer scheme. First Actuarial can help you to plan ahead and set a mitigation strategy that may reduce or completely avoid a termination debt. 
• mergers and acquisitions: Pension issues are an important area to address in a merger or acquisition. First Actuarial's thorough due diligence process can help your housing association identify and mitigate pension-related risks in the proposed arrangements. 
• Pension cost accounting: First Actuarial provide independent assurances to housing associations that the assumptions used in their pension cost accounting disclosures are reasonable and appropriate.

You can find out more about First Actuarial's pension services for housing associations on its website.

If you’d like to discuss how First Actuarial could help your organisation, please get in touch:

• Dale Walmsley, Partner, dale.walmsley@firstactuarial.co.uk, 0161 348 7464
• Craig Moran, Actuary, craig.moran@firstactuarial.co.uk, 0161 348 7468