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9th December 2014

CARTWRIGHT GROUP SHORTLISTED IN TWO CATEGORIES FOR PENSIONS AGE AWARDS 2015

We are delighted to announce that Cartwright Group has been shortlisted in two categories for the Pensions age Awards 2015. The categories in which we have been shortlisted are 'Pensions Consultancy of the Year' and 'Pensions Administrator of the Year'

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3rd November 2014

STATE-OF-THE-ART ASSET LIABLITY MANAGEMENT CAPABLITY PUTS CARTWRGHT GROUP AHEAD OF THE CURVE

Specialist actuarial, pensions and benefit consultancy firm, Cartwright Group, has signed an agreement to license the Asset Liability Management (ALM) software tool developed by Ortec Finance, a leading global provider of technology solutions and services to the pensions industry.

The move further strengthens Cartwright Group’s investment consulting proposition, and is central to its long term growth strategy.

Key to working with Ortec Finance was the pedigree of its ALM solution, according to Ashlin Noonan, Investment Consultant at Cartwright Group.

“It’s a top of the range system, and means our clients, from the largest to the smallest, get best in class” explains Ms. Noonan.

Commenting on the benefits to Cartwright Group’s clients, Maurits van Joolingen, Client Services Manager at Ortec Finance says.

“Our ALM solution has been developed with pension schemes in mind from the outset. So it is completely focused on those specific goals and objectives, including meeting current integrated risk management requirements.”

Van Joolingen explains that the starting point for Ortec Finance’s ALM tool is to analyse a scheme’s exposure to risk. It then looks at how those risks can be managed in the most efficient way.

“It gives the ability to test the robustness of decisions across the whole risk spectrum of investment scenarios so that the most appropriate policy can be set,” adds van Joolingen.

As well as high-quality economic scenarios based on more than 400 variables, including all major regions in the world, the Ortec Finance ALM system provides consistent modelling of assets and liabilities, including the simulation of future consequences in terms of relevant objectives and risk factors.

Such focused capabilities will allow Cartwright to help clients address the requirements of the Pensions Regulator’s new Code of Practice for Defined Benefit (DB) schemes, which places increased importance on integrated risk management when developing a scheme funding solution, says Ms. Noonan.

“Clients are now sitting up and taking notice of the new code and asking themselves whether they are compliant and could they be doing more to ensure they are. So increasingly, they need a firm that can provide the full range of investment consultancy services and the level of expertise to match.

“The new ALM solution gives us more detailed modelling capacity to analyse current investment positions as well as the level of risk the client is carrying. This allows us draw up a strategy to get the right balance between reducing the level of risk and the investment return the client needs to achieve in order to fulfill pension scheme obligations,” she adds.

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1st October 2014

CARTWRIGHT GROUP ADOPTS PROCENTIA ADMIN SYSTEM

New administration system at heart of Cartwright Group’s growth strategy

Actuaries and consultants, Cartwright Group, has selected Procentia’s Intellipen platform as its new pension administration system. The decision to go with pension software provider Procentia over other platforms came down to quality and flexibility, according to Tony Thornton, Director of Pensions Administration at Cartwright Group.

“As a pensions administration provider we live by the accuracy, speed and quality of service we deliver to our clients. We want to build on our current high standards and Procentia’s Intellipen platform allows us to do that. At the same time, the new platform is flexible enough to accommodate our future administration requirements brought about by changes to the pension landscape,” he explains.

Commenting on the appointment, Procentia’s CEO, Steven Donkin said: “We are delighted that Cartwright Group has chosen Intellipen as its new platform. I firmly believe we have a role to play in underpinning their growth plans with a strong and robust pension administration platform that has the capacity to grow alongside them.”

Procentia’s Intellipen platform is a modern browser-based platform which has a suite of tools enabling full integration across accounting and payroll service modules. It also provides for administrator view access and has an interactive member portal.

These enhancements will enable Cartwright’s clients to access real-time membership and financial information in relation to their pension arrangements, allowing for regular and ongoing monitoring through a simple, intuitive yet powerful online portal.

Following the appointment, Cartwright will migrate all existing clients onto the system. There are advanced project management plans in place and the migration will occur in a phased manner to minimise disruption.

We see this as an important and exciting development for our business, which will enable us to build on our existing high quality service and attract further clients, explains Mark Williams, Cartwright Group’s newly appointed Commercial Director.

Cartwright Group is building its presence and service proposition having acquired the trust-based pensions business of Gallagher Benefits Consulting in 2013. It has also made recent senior appointments as part of its growth strategy. .

The firm provides a range of services to over 200 defined benefit (DB) and defined contribution (DC) schemes.

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30th September 2014

CARTWRIGHT GROUP EXPANDS WITH TWO SENIOR APPOINTMENTS

Cartwright Group has announced the appointment of Mark Williams as Commercial Director and Ashlin Noonan as Investment Consultant. These are two pivotal appointments for the firm which is strengthening its presence in the pension actuarial, consultancy and administration market.

Mark joins Cartwright Group from Capita Employee Benefits and in this newly created role he will be responsible for all areas of business development and marketing including the Group’s strategy for growth.
Ashlin is a qualified actuary with over 12 years of investment consulting and pensions experience. She has previously worked with Novare Actuaries and Consultants in Cape Town as Head of Asset Liability Modelling and Strategy Formulation; at Watson Wyatt where she was Investment Consultant, and at KPMG as Actuarial Analyst. Ashlin will develop Cartwright Group’s expanding range of bespoke investment consultancy services with particular focus on integrated risk management for existing and new clients.
Commenting on the latest appointments, Cartwright Group Chairman and Managing Director, Ian Cartwright said:
“Ashlin and Mark will inject added knowledge and momentum to the delivery of specialist guidance and services to our existing and prospective clients. Our clients will benefit from the latest thinking to help them plan and manage their funding and investment strategies.
“As schemes continue to shrink or close it has never before been as important as it is now for the trustees and sponsors, particularly of small to medium sized schemes, to be able to access expert, cost-effective advice.”

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20th May 2013

Greater role for trustees in company takeovers

Following consultation in 2012 the Takeover Panel has now issued a new version of the Takeover Code which takes effect from 20 May 2013.

Essentially, pension scheme trustees now have the same rights as employee representatives in relation to the provision of information about the offer. The new code provides that:
- Trustees will have the opportunity to express their views during a takeover
- Buyers must inform trustees of their intentions for any defined benefit schemes of target companies.

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5th April 2013

DWP formally confirms delays over GMP equalisation

The Pensions Minister, Steve Webb, announced in February that legislation to force GMP equalisation has been shelved until at least Spring 2014. The DWP has now confirmed this in an interim response to the public consultation, published today.

However, the issue rumbles on. Despite pressure from the pensions industry the Government still feels that there is a need to equalise GNP’s in order to comply with EU law. Further, the Government does not feel that sponsoring a test case is the right way forwards. None of this is helpful to trustees and scheme sponsors who must now await the final response and hope that the Government provides simple guidance on the process to covert GMPs to standard scheme benefits.

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1st April 2013

Cartwrights announces acquisition

We are delighted to announce that, with effect from 1st April 2013, we have acquired the trust-based pensions business of Gallagher Benefits Consulting Ltd.

The deal expands the number of staff within the group to 60 and boosts the actuarial team to 16, including 8 qualified actuaries.

Ian Cartwright, who started the group in 1986 said, 'We have had a professional association with the Gallagher business (and its predecessors) for over 20 years and this acquisition complements our services and client portfolio. We are all extremely excited about the opportunities that it brings'.

We offer a full range of services to assist trustees and employers in managing their pension and benefit arrangements, delivering quality services, quickly.

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20th March 2013

New pension news(!) from the Budget

This year's full Budget re-iterated much of the news announced in the Autumn Statement.

However, one point worthy of note was confirmed regarding the new Single Tier State Pension.

It has been confirmed that the introduction of this has been bought forward to April 2016 from April 2017, saving the Treasury some £5.5bn.

Whilst not in itself an issue for occupational pensions schemes, it has a knock-on effect for those that contract–out for future service. The much mooted cessation of this on a defined benefit basis will also happen in 2016, making contracting-out by any form a thing of the past.

Employers and scheme members will have to pay additional national insurance contributions and scheme design issues for dealing with the increased costs will need to be considered.

We have issued a technical Update bulletin on this.
Click on this link to view our Updates.

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15th Febuary 2013

New Auto-Enrolment website launched

A new website has been launched by the NAPF to help employers and HR professionals better understand how to auto-enrol its staff into a workplace pension. The site has been broken down into a number of sections and is designed to help employers understand the technical requirements of automatic enrolment and its issues so that they can be feel more confident about pensions.

Commenting on the new site, Marion Stanley of Cartwrights said ‘this new website is intuitive and easy to use and complements the advice and support that we are providing to our clients. Small to medium sized employers do not generally have the time or resources to build sophisticated AE solutions or licence middleware – any additional support and guidance is welcomed’.
To view the new website, click here

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13th Febuary 2013

GMPs to remain unequal...for now

The government has delayed plans to force schemes to equalise guaranteed minimum pensions until Spring 2014, pensions minister Steve Webb announced today.

Whilst administrators can breathe a sigh of relief (the proposed method of equalisation was complex to say the least), it appears to be only a temporary respite.

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