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14

APT appointed as registered administrator for Irish Permanent windup

APT secures the appointment to wind up the defined benefit scheme following a tender process undertaken by the Trustees.


Following a tender process undertaken by the Trustees of the Irish Permanent Staff Pension Scheme, Allied Pension Trustees Limited (APT) have been appointed to undertake the winding up of the scheme.










26

Change in priority order for DB schemes in wind up

Joan Burton announced a series of changes which include a change to the priority order for defined benefit schemes on wind up, together will a less tolerant approach for schemes which fail to meet a minimum level of solvency.


Apart from the cases of double insolvency, the change in priority order will have limited impact on the majority of schemes.
















Regulatory Status

As a MiFID regulated investment firm (Market in Financial Instruments Directive), APT Financial Services Limited is

  • Licensed by the Central Bank of Ireland to offer unrestricted investment advice www.centralbank.ie
  • Capable of offering an unrestricted range of investment managers
  • Well positioned to devise investment strategies using a combination of domestic and international managers

The advantages to this type of structure are numerous

  • Trustees can offer multiple investment managers (both active and passive)
  • Cater for different attitudes to investment risk
  • Add or delete managers with ease

Services Offered

Our team of experienced investment consultants are equipped to design investment strategies which are easy to understand, yet deliver the desired results. Our range of services include

  • Design and implementation of investment strategies
  • Manager selection and appraisal
  • Benchmarking and manager review
  • Performance measurement comparisons
  • Statement of Investment Policy Principals (SIPP)

Design & Implementation of Investment Strategies

Our team of investment consultants will devise a strategy to suit your plan’s particular needs. Strategies can vary depending on the nature of the plan, i.e. defined benefit or defined contribution

In the case of defined contribution plans , we generally recommend a default passive Lifestyle approach with active manager options to cater for those members who wish to make their own investment decisions

Investment Manager Selection

Our manager selection process is based on a set of proven criteria, developed over the last 25 years. The selection process appraises managers based on a number of key criteria, namely security of assets, investment process, decision making process and continuity of the investment team

Lifestyle Defaults

Lifestyle funds are based on the general principle that investment needs change as members approach retirement. The APT Lifestyle strategies are designed to

  • Move individual investors automatically through different asset classes through the various stages of their working lives
  • Provide a smooth glide path to retirement for those seeking to purchase an annuity at retirement. This process is automatic, removing the responsibility from individual members to make such decisions, or
  • Maintain performance seeking investments to accommodate members who wish to retain ownership of their assets in retirement, by means of an ARF, and can withstand the volatility of markets over the long term

APT Lifestyle Defaults

Generally we suggest the adoption of two default investment strategies, aimed at those who will use their retirement fund to opt for Tax free cash and annuity, or Tax free cash and Approved Retirement Fund (ARF) at retirement age

The investment objectives of each are distinctly different. In the former, a single “crystallization” date looms on which the member sells the investments to buy the annuity. In the latter case the drawdown is phased over a period of time