January 2012 Articles
Financial Assessment
2011 was the first year that the SHAPS undertook a financial assessment exercise of all it's participating employers. So, why was this done and what was the outcome?
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Deficit Contributions from 1 April 2012
The basis adopted to calculate the contributions required towards the deficit identified at the 2009 triennial valuation was based on a percentage of each organisations pensionable salary roll as at 30 September 2009.
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SHAPS Funding Update
The date of the Scottish Housing Associations' Pension Scheme (SHAPS) next triennial valuation is 30 September 2012; a funding update is carried out on 30 September in the interim years between valuations.
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Auto-enrolment
With effect from October 2012 employers will be required to enrol eligible employees into a workplace pension scheme and make an employer’s contribution towards the Scheme. This is known as auto-enrolment.
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Pensions Committee Elections 2012
Every two years elections are held for vacancies on the SHAPS Pensions Committee. Your organisation will receive a Nomination Form inviting it to put forward a candidate.
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Pensionable Pay Increase Policy
The SHAPS Pensions Committee has a policy to review the annual salary increases awarded to members of the Scheme to ensure that employers are not seeking to increase member benefits by awarding above average salary increases.
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