Jane Foley
Richard joined ProPensions in July 2024, bringing with him over 25 years’ experience in the pensions industry. He started his career as a pension scheme administrator before joining TDC (latterly Broadstone) in 2007 as a client manager, where he remained until joining ProPensions.
Richard has extensive experience of working closely with trustee boards and employers from a variety of industries to ensure the smooth delivery of administration, governance and consultancy services.
Richard seeks to understand client’s priorities, expectations, issues and options to ensure that appropriate services and solutions are provided in a cost-effective manner within a proportionate governance framework.
The key experience that Richard brings to his role as a Trustee includes:
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Managing all aspects of pension scheme governance
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Providing advice on and implementing legislative changes and requirements
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Extensive experience of providing full scheme secretarial services
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Managing GMP equalisation exercises from inception to completion, including identifying the in-scope members, consideration of appropriate calculation methodology, advising of and making top-up and arrears payments to in-scope members
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Supporting risk transfer via buy-in and buy-out exercises. This includes drafting scheme benefit specifications and obtaining legal review, production of membership data sets and liaising with investment advisers to ensure that investment strategy matches movements in annuity prices.
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Assisting trustees through PPF assessment periods
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Liaising with the Pensions Regulator on both the submission of standard reports and a wide range of issues.
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Full understanding of scheme member and administrative issues.