A lot has been written about how to achieve good outcomes for members of defined benefit (DB) pension schemes. A strong employer covenant, well-managed investments...
Read article “Good administration, the backbone of pensions”5 minutes
On 5 December, MP for Chesterfield Toby Perkins visited Brightwell, a major local employer with over 122 employees.
Brightwell is a comprehensive provider of services to DB pension schemes and its largest client is the BT Pension Scheme (BTPS). All pension scheme administration activities are handled from Brightwell’s offices in Chesterfield.
To ensure that Brightwell can meet its clients’ needs, both now and in the future, in 2022, it established the Brightwell Pensions Academy, a blended learned programme aimed at nurturing and developing early careers within the pensions industry.
Brightwell recruits people of all ages and backgrounds, with little or no pensions knowledge who have strong potential, a great attitude and a willingness to learn. It is a blended learning programme combining classroom learning, hands-on experience, and work-based practical training. The programme takes 9-12 months to complete, upon which participants are promoted to the role of Pensions Administrator.
During his visit, Toby met with a number of academy trainees to find out more about the programme.
Dave Tomlins, Head of Pensions Services Delivery, said: “It was fantastic to welcome Toby to our offices. Over the past 12 months we’ve increased the number of employees in Chesterfield by 15% and, with the future growth we have planned, we expect these numbers to continue to rise.
“We are very proud of the Pensions Academy and the trainees enjoyed meeting Toby and sharing their experiences of the programme.”
Toby Perkins MP said: “It’s great to see another company really growing in our town. Strong local employees who are committed to investing in and developing talent are key to the community. I was delighted to visit Brightwell and see the great work they are doing with the Pensions Academy providing not just jobs but careers with real potential.”
Head of Communications and External Relations
Morten Nilsson, CEO, Brightwell said: “The PPF Purple Book once again highlights the highly fragmented nature of UK DB schemes. It’s startling that schemes with fewer than 1,000 members make up 80 per cent of the total number of schemes but only around 10 per cent of total assets, liabilities, and members."
Find out more about “Brightwell comments on the publication of the PPF Purple Book”06/12/2024
Pension funds invest in gilts (UK government bonds) due to their ability to match liabilities, through their interest rate and inflation linkage. However, insurance companies, which take over the management and payment of members’ pensions during a buyout, traditionally prefer higher-yielding assets.
Find out more about “Expert investor series – How could pension scheme buyouts influence the gilt market”03/12/2024
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