A chink of light on pensions
Pensions continue to provide problems for individuals and for employers but changes put in place over the past five years are now beginning to have an effect. The public sector as an employer has made changes that make pensions more affordable and the pensions regulator has issued guidance around dealing with deficits that provides more flexibility. The auto enrolment programme has increased the number of active members paying into pensions. And, through the work of organisations such as Shareaction, pension schemes are beginning to take positive steps to invest more constructively, so that our money is more likely to be used for good. (If you would like to explore this further, the Guild of St George and Shareaction are hosting a one day conference on 24 October, "Using your money for Good" check eventbrite for booking and details)
The fact remains that for many small charities a defined benefit scheme liability will be the biggest financial problem that they face. Where this is with a Local Authority there has often been no option but to pay when asked and hope that something will turn up. However, there are now examples of more flexible practice emerging from enlightened councils that will hopefully allow small charities (admitted bodies) to resolve these pensions problems.
If you would like to find out more, please contact Chris Harris.