PLSA releases trustee guide to ‘subjective’ good value assessment

first_imgThe UK’s national pension fund association has published a guide to help trustees of defined contribution (DC) workplace pension schemes meet their new legal requirement to assess good value, stepping in with the assistance in the absence of a statutory definition.  Under new regulations effective in the UK this past April, trustees of DC occupational pension schemes providing money purchase benefits have to assess and explain the extent to which costs and charges in their scheme represent good value for members.The outcome of the assessment has to be explained in an annual governance statement from the chair, another legal requirement introduced in April.However, there is no statutory definition of good value, and regulatory guidance is limited. The Pensions and Lifetime Savings Association (PLSA) has therefore developed a six-step plan and a guide to best practice to help trustees assess good value.It said the assessment involved a subjective judgement and that “there is no single right answer”, but it highlights what can be expected of trustees and the key steps involved in assessing value for money.The guide was developed in association with the law firm Eversheds.Mark Latimour, head of pensions investment at Eversheds, said the question of what constitutes good value and how trustees should assess is prompting much debate in the pensions industry.“Similar questions are also being debated in the context of the new independent governance committees, which have been established to scrutinise the value for money of workplace personal pension schemes,” he said.The PLSA’s guide draws on the UK regulator’s new draft DC code of practice and discussions with scheme members and the regulator.The association notes that, in the code of practice, The Pensions Regulator (TPR) says a scheme is likely to offer good value where “the combination of costs and what is provided for the costs is appropriate for the scheme membership as a whole, and when compared with other options available in the market”.In other words, value cannot be assessed in a vacuum, the PLSA said.Amy Hennessy, policy adviser at the association, said the new guide offered trustees practical guidance on approaching the assessment and sets out best practice “in this evolving area”.“Assessing value for members is not a tick-box exercise,” she added. “Neither is it a static one. Trustees are committed to ensuring members get the best retirement outcomes possible and will use this assessment as part of their ongoing efforts to review, revise and improve their scheme to ensure it continues to deliver for members.”,WebsitesWe are not responsible for the content of external sitesLink to PLSA ‘Assessing Good Value for Members’ guidelast_img read more

World Series Game 3: Dodgers at Astros, lineups, starting pitchers, TV info

first_img Tomko becomes a Padre Having a day off Thursday likely helped both sides take a breather following the emotional rollercoaster that was Game 2. Houston returns home having wrestled home-field advantage away from the Dodgers by handing them their first home loss of the postseason.The Astros now hope 24-year-old Lance McCullers Jr. can pick up where he left off in the ALCS. McCullers gave up just one run over 10 innings against the New York Yankees, including a four-inning, one-hit save in Game 7. McCullers, who was plagued by injuries and poor performances during the second half of the regular season, allowed just one run in six innings in his Game 4 ALCS start.The Dodgers turn to midseason acquisition Yu Darvish, who has allowed two runs and struck out 14 in 11-1/3 postseason innings. Darvish is familiar with Minute Maid Park, going 4-1 with a 2.16 ERA there in six starts during his time with the Texas Rangers.WORLD SERIES GAME 3 THE PITCHERSDODGERS RHP YU DARVISH (10-12, 3.86 ERA)Vs. Astros: 5-5, 3.44 ERAAt Minute Maid Park: 4-1, 2.16 ERAPostseason history: 2-2, 3.52 ERA, 4 starts2017 postseason: 2-0, 1.59 ERAHates to face: George Springer, 6 for 18 (.333), 2 HRsLoves to face: Cameron Maybin, 1 for 9 (.111), 4 KsASTROS RHP LANCE McCULLERS (7-4, 4.25 ERA)Vs. Dodgers: 0-0, 2.57 ERAAt Minute Maid Park: 13-4, 2.39 ERAPostseason history: 0-0, 2.33 4 games (2 starts)2017 postseason: 0-0, 2.08 ERA, 1 saveHates to face: Andre Ethier, 3 for 3Loves to face: Justin Turner, 0 for 2UPCOMINGSaturday, Game 4: Dodgers LHP Alex Wood (16-3, 2.72 ERA) at Astros RHP Charlie Morton (14-7, 3.62 ERA), 5 p.m., Fox/Ch. 11Sunday, Game 5: Dodgers LHP Clayton Kershaw (18-4, 2.31 ERA) at Astros LHP Dallas Keuchel (14-5, 2.90 ERA), 5 p.m., Fox/Ch. 11Related Articles Narbonne finds its focus in 2nd half DODGERS at ASTROSWhen: 5:20 p.m.Where: Minute Maid ParkTV: Fox/Ch. 11THE LINEUPS (Dodgers updated with Pederson to DH): Untitled LAPD: Film director isn’t at fault in death Unbeaten 49ers will visit UCLA for key MPSF match center_img U.S. airstrikes pound insurgent havens in Iraq Cal High’s senior project program wows Help sought in fugitive hunt Fashion district info South Bay retrospective Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Bert Bowes student Kane Schreiner competes at Provincial Track and Field Championships

first_imgFORT ST. JOHN, B.C. – On May 30 to June 1, Bert Bowes Middle School sent one student to Kelowna to compete at the Provincial Track and Field Championships.Top athletes from each Provincial zone competed at this event.According to Jen Harrison, of Bert Bowes, Kane Schreiner placed 9th in the 800 metre and 11th in the 400 metre.- Advertisement -Harrison says she is proud of Schreiner for his effort this season, making it as a contender with the best of the best.“I am very proud of Kane. He is running with the best of the best and has worked hard this season, which has paid off in terms of him being a contender with the best.”last_img