Following the recent announcement by the Pensions Regulator (tPR) that nearly 400,000 people in the UK have chosen to transfer out of their defined benefit (DB) pension schemes since 2016, a leading actuary has warned that, although he can see the positives of such a move, some could be at risk of running out of money.

The Pensions Regulator’s report revealed that 390,000 people have transferred out with the total amount to date standing at £60billion pounds. 210,000 people (£34bn) have transferred out within the last year alone.

Stuart Price, Partner and Actuary at Quantum Advisory, said: “A defined benefit scheme is seen as the gold standard for UK pension provision as it provides a ‘guaranteed’ income throughout retirement for the individual and their financial dependents, so it might seem somewhat surprising that so many people are giving this up and opening themselves up to the possibility of running out of money. However, there are many reasons why transferring out can seem like a good option, particularly following high profile cases of major companies going into administration resulting in members’ DB pension benefits being reduced. Stories like this can make the general public wary of DB schemes and tempt people to ‘take their money and run’.

“DB pensions also offer very limited flexibility at retirement and upon death compared to defined contribution (DC) arrangements and, by transferring out from DB to DC, although the promise of the secured income is lost, much more flexibility becomes available. Whether transferring is the right thing for an individual to do depends entirely on their circumstances so unless you look at each case in isolation it’s impossible to say there is a right or wrong option.

“It’s important to remember that if a defined benefit transfer value exceeds £30,000, many of which do, then it is a legal requirement for an individual to take independent financial advice so that the individual can make an informed decision.

“For the Scheme and the Sponsoring employer, transfers out are generally seen as positive as it helps to reduce liability and overall long-term investment and mortality risk within the Scheme and some employers even offer enhanced transfer values to increase the number of individuals transferring out of their scheme.

“I expect given the current low gilt yield, which inflates the value of DB transfers, this year will be another bumper year for transfers out from DB schemes.”

Established in 2000, Quantum Advisory provides pension and employee benefits services to employers, scheme trustees and members from offices in Cardiff, Bristol, Amersham, Birmingham and London. For more information about Quantum Advisory, please visit: https://quantumadvisory.co.uk.

Christ College, Brecon has promoted their hockey coach to Director of Hockey as part of its growing commitment to sport at the school.

Chris Marriott will take on the leadership of the Hockey programme from Dr Dominic Phelps, who managed the sport at the school for nine years.

Chris joined Christ College in 2013 after a highly successful three-year tenure as head coach to the men and women’s Blues teams at Cambridge University.

Chris has already had a significant influence on the Hockey programme, leading school teams to victory multiple times, and county, regional, and national titles.

During his time at the school he has also acted as a coach developer for Hockey Wales and Great Britain Hockey, and has worked with Sport101 and Futures sports. All of which he will continue alongside his new role.

Alongside supporting the development of the school teams, Chris has assisted a significant number of talented individuals, many achieving international honours.

Hockey is a focus sport at Christ College Brecon. The girl’s U18 team were runners up this year, having won the Welsh National Championship in 2018 and 2017 and have had a girls team reach the National’s Runners up every year since 2011. Since 2014 the boy’s teams have achieved seven national titles at U14, U16 and U18 level.

Chris said:

I am incredibly excited to take on my new role. I am keen not only to retain our position as the leading hockey school in Wales, but to strengthen that claim, and to expand and improve the quality of our hockey activity.”

Chris will begin his new role on September 1 in time for the new school year.

Mr Gareth Pearson, Head of Christ College Brecon, said:

We are thrilled to have Chris as our Director of Hockey, we are extremely lucky to have someone as dedicated to the school and to the sport of hockey as Chris. We believe he will take the programme and the success of the teams to new heights and are excited to see his years of experience implemented in a new role.”

Set within the Brecon Beacons National Park, Christ College is an independent co-educational boarding and day school, with 380 pupils on roll between the ages of seven to 18.

TOP British manufacturers have joined forces with Acorn Leisure to supply boutique timber lodges for a picturesque North Wales holiday park.

The company will open phase one of its Maes Mynan lodge park development in Afonwen, near Caerwys, in September.

Owners Peter and Louise Barlow – who also have parks in nearby Cilcain and Lloc – have planning approval for 47 luxury lodges in addition to a further 133 pitches to accommodate static and touring caravans on the former sand and gravel quarry site, which has lain empty since the mid-1990s.

They are working with Northamptonshire-based firm Prestige Homeseeker to supply bespoke luxury lodges, an innovative company renowned for tailoring the accommodation to a customer’s specification.

Louise is working with them to create two bespoke lodges that will reflect the history of the land and its rural location in an area of outstanding natural beauty.

Founder and owner of Prestige Homeseeker, Silvano Geriano, is sure their lodges will complement the “spectacular” scenery.

“The park is in a stunning part of the region with amazing views, so it’s a marriage made in heaven for prospective holiday home-owners,” said Silvano, who has worked in the sector for almost 30 years and employs 450 people via the firm’s Rushden headquarters.

“Our unique lodges combined with the spectacular scenery at Maes Mynan will be fantastic, so we are of course really pleased to be working with Louise and Peter.”

He added: “We build aspirational lodges, with the finest quality finishes both inside and out; everything we produce is sustainable and it’s about meeting the customer’s expectations, which we achieve through experience and inspiration.

“Our range of holiday lodges are second homes, which is why they need to reflect the nature and landscape around them. That’s how the industry has grown over the years, and we have grown with it.”

The sustainability and environmental factors are crucial to the Acorn Leisure development as the rural location of the Maes Mynan Park is situated within an Area of Outstanding Natural Beauty (AONB) and features a woodland, three lakes and added landscaping to protect biodiversity and connectivity within the natural landscape.

There are also sections of land earmarked for ecological research and conservation, in addition to a proposed boutique eco-glamping area.

“We have so many ideas for the park and work is well underway in completing the phase one infrastructure and environmental elements,” said Louise.

“We want the very best lodges to be placed on site for our customers. We are pleased to be working with Prestige who can offer prospective holiday home-owners a range of incredible timber-built lodges that will fit snuggly into the rural landscape at Maes Mynan.

“We believe it is important to offer customers a professional service when it comes to choosing a second home and we were very impressed with Prestige’s set-up in Northamptonshire – which includes a show ground and factory tours.

“That gave us confidence in how our future customers would be looked after when it comes to choosing a Prestige lodge with their own bespoke interiors.”

With more and more people turning to ‘staycation’ holidays, Silvano says the industry is only going one way.

“Things have changed so much in the last decade, and ‘theming’ is still relatively new,” he said.

“At Prestige we have a minimum five years of ideas that will see further innovation. This will support change in perceptions when it comes to how a holiday lodge or single unit static caravan should look.

“Holiday parks are no longer regarded as a blight on the landscape and uniform in design, laid out in rows that lack any special features.

“The second home and holidaying aspirational factor is huge, and that is what we aim for; we are selling a lifestyle, from customer service to the showroom to the park itself, which is why owners taking Prestige Homeseeker lodges at Maes Mynan will be in a fabulous position.”

Peter added: “Maes Mynan Park will offer a unique holiday space in Flintshire, secluded and peaceful with great views, but also accessible because it’s just a stone’s throw from major access routes and popular tourism destinations, as well as award-winning restaurants, attractions and some of the most beautiful walks and countryside you could hope to find.

“Providing luxury lodges is the first step to a happy holiday and an aspirational lifestyle that adds a new perspective to everyday life.”

Visit www.prestigeparkandleisurehomes.co.uk to find out more about Prestige Homeseeker.

For the latest on Maes Mynan, visit the website: www.maesmynanpark.com

A ground breaking ceremony has signalled the start of a new housing development in Pencoed which will deliver 40 much-needed affordable homes on the former site of Pencoed Primary School.

Hafod, Bridgend County Borough Council and Bridgend based contractor, Jehu Group are working in partnership to redevelop the site which will help to meet a high and rising demand for homes in the area.

Hafod has invested over £20m in building new homes in the county borough in the past five years, Jas Bains, Hafod Chief Executive, said:

“The site holds a lot of history and we hope the new development will add to this by bringing another valuable asset to the community in the form of much-needed, high quality affordable homes.”

Funded by Hafod and the Welsh Government’s Social Housing Grant and Housing Finance Grant, the £6.7 million investment will deliver 12 one-bedroom apartments, 15 two-bedroom, seven three-bedroom and six four-bedroom homes which are due for completion in autumn 2020.

Cllr Huw David, the Leader of Bridgend Council, said:

“I can’t think of a more fitting use for this site. This modern redevelopment will bring very important affordable housing for local people, improving choice and availability in a popular area where it’s needed.

“Hafod and the council have a long history of working well together and I’m sure this project will prove to be another successful partnership.”

Huw Irranca-Davies AM for Ogmore, added:

“I was delighted to join others at the ground breaking ceremony on site of the former Pencoed Primary School, which will now make way for construction of a brand new development of affordable housing.

“The wider benefits of the new development will provide a boost to the local area with an upgrade of existing outdoor recreation facilities along with safer community routes via a speed restriction of 20mph on the new proposed estate road.”

Lee Woodfine, Managing Director at Jehu Group commented:

“We are so pleased to have been appointed the contractor for this development by Hafod. As a Bridgend based family company we relish these opportunities to transform and regenerate communities on our very doorstep.”

The homes will be available to rent and will be allocated via the council’s common housing register. To find out more please email housing@bridgend.gov.uk or call 01656 643643.

Photograph: Guests at the ground breaking ceremony included the Mayor – Cllr Stuart Baldwin, Mayor of Pencoed Town & Local Member – Cllr Bridie Sedgebeer, The Leader – Cllr Huw David, Huw Irranca-Davies AM for Ogmore, Cabinet Member for Wellbeing & Future Generations – Cllr Dhanisha Patel and Local Member – Cllr John McCarthy.

A privately-run bus service which runs between Coity Road and Brynteg Comprehensive will not continue after 1 September 2019 – but another public transport operator has already stepped in to pick up most of the route.

The S56, which is operated by First Cymru Buses, is a non-subsidised commercial bus service.

First Cymru recently submitted an application to the Traffic Commissioner to cancel the S56 from 1 September 2019.

At the same time, Peyton Travel Ltd have registered to cover much of the same route via another non-subsidised commercial service, the PT12/13, from 2 September 2019.

As the PT12/13 is a double-decker vehicle, it will unfortunately not be able to fit under the railway bridges located at Cemetery Road and Litchard Terrace / Wildmill Lane.

Instead, it will travel as close to the estate as possible and make stops along Coity Road and Litchard Cross.

Cllr Richard Young, Cabinet Member for Communities, said:

“I’ve seen and heard a great deal of misinformation claiming that the S56 service must be ending because the council has stopped subsidising it, but this is entirely incorrect.

“The truth of the matter is that the service has been entirely commercial and privately run for several years now, and the council has not been involved in what remains a private business decision.

“I’m pleased to see that another operator is stepping in to cover as much of the route as possible, and that it is going to run as close to the estate as physically possible under the circumstances.”

A Cardiff bank manager celebrates her 45^th anniversary working for NatWest this week.

Sandy James, 61, is manager of NatWest’s Queen Street branch in the Welsh capital and is currently the longest serving member of staff at any of the bank’s branches in Wales.

She started working for NatWest in 1974 at her home-town branch in Penarth when she was just 16. Her first jobs included printing cheque books and folding statements, yet she quickly rose through the ranks and in a distinguished career has worked in marketing, insurance and branch banking for NatWest.

She has spent the last 12 years of her career managing Wales’ biggest NatWest branch in Cardiff and in that time more than 180,000 customers have visited the branch.

“The last 45 years have flown by. I can’t believe how quickly they’ve gone,” said Sandy. “I can still remember my first day with the bank in 1974. My manager was a man called Jim Schofield and he told me I had to go to London for five days for my induction. Back then when you visited London with work you would stay with the family of a member of staff there. It’s quite surreal to think of that now.”

Today banking is very different compared to when Sally began her career in 1974, with customers now able to use their phones to pay and check their account balances. Yet Sally says the biggest change she has seen over the last 45 years is the relationship they have with their customers.

“When I started you processed customers, you didn’t serve them. You stood behind a screen and just processed what they needed. Today it is so much better and it’s the biggest reason I love my job so much. You get to build relationships with the people we serve and to work helping them. It’s a value that’s important to me and my staff and something we’re very proud of,” she said.

Despite her long service Sally has no plans on retiring yet saying she loves her job too much. And it’s a passion that clearly runs in the family genes as Sally’s daughter Emma, 30, works as a senior personal banker at the Queen Street branch following a work experience placement with NatWest when she was 16.

“My husband won’t be happy, but I’d like to work at least another five years,” said Sally. “I just love working with my staff and our customers so much.”

Adrian Aurelius, Chair of the NatWest Cymru Board, said:

“We’re very proud of Sandy. She is a hugely respected member of our team and works tirelessly to help both customers and colleagues. Sandy’s level of dedication has stood with her throughout her whole career and has inspired so many of the people she has worked with.”

A framework which aims to deliver a coherent approach to improving public transport across the whole South East Wales region has been ratified today (Thursday 1st August) by the Cardiff Capital Region Transport Authority (RTA).

The Cardiff Capital Region City Deal and Welsh Government will work together to secure the £50 million South Wales Metro Plus programme of improvements and initiatives across South Wales, which will include private sector contributions. The programme supplements the core £734m South Wales Metro scheme being delivered by Transport for Wales, work on which has also begun.

A Common Assessment Framework (CAF) will ensure that the 10 proposed Metro Plus Phase 1 schemes are not viewed as individual transport schemes, but rather a programme of enabling infrastructure to stimulate economic growth and regeneration of the region, by supporting the mobility of people and skills.

Phase 1 of The Metro Plus Regional Transport Authority (RTA) Programme will see each Local Authority within South East Wales receive a £3m share towards implementing schemes in their area. The draft framework announced today sets out to enable these projects to be developed in a comprehensive, but streamlined way, initially testing for ‘strategic fit’ and then progressing through a series of gateways which seek to demonstrate the core ‘economic’, ‘deliverability’ and ‘affordability’ aspects of each proposed project.

In addition, Welsh Government is preparing a Metro Enhancement Framework (MEF), based upon 13 transport corridors, which will assist with prioritising transport interventions across the region. The framework will look to include and complement City Deal priorities along with ensuring that all schemes consider the wider goals in relation to climate change, active travel, health and any other national and regional policies and strategies.

The programme of schemes proposed within Metro Plus Phase 1 include:

• The creation of ‘interchanges’ that incorporate all modes of transport, acting as key hubs for travel
• Enhanced Park and Ride facilities, complete with electric charging points
• New and extended Metro networks that will open up and enable improved access to new and existing activities for work, training, education, culture, retail and leisure

Phase 1 will see a £15m investment from Cardiff Capital Region City Deal, with a co-investment of up to £15m from Welsh Government’s Local Transport Fund subject to future rounds of bidding. The remaining £20m will be sourced through local developer contributions, private sector investment and other contributions such as Council capital funds. Programme delivery will commence during 2019 and be complete by 2022.

The key outcomes of the Metro Plus programme include: improvements in accessibility, improvements for areas of deprivation, accommodation of future population change, supporting thriving towns and communities, as well as improving all modes of transport. The £734 million Metro project is the cornerstone of the £1.2billion City Deal, creating a transport infrastructure which will help enable the social and economic objectives of the Cardiff Capital Region.

Councillor Huw David, Chair of the CCR Transport Authority, and Leader of Bridgend County Borough Council, said:

“The draft Common Assessment Framework we have developed for the Metro Plus Programme will help to achieve goals that aim to tackle poverty and deprivation, improve access to skills, enhance employment opportunities and provide improved infrastructure as well as healthier communities.

“Aligning closely to the Welsh Government’s Metro Enhancement Framework, we are confident that this new way of working will fully deliver region-wide benefits to the whole of South East Wales.”

Councillor Andrew Morgan, Chair, Cardiff Capital Region said:

“We have been working closely with our colleagues in Welsh Government to ensure that the schemes proposed through Phase 1 of Metro Plus will utilise every opportunity to stimulate our regional economy.

“The draft Common Assessment Framework we have revealed today will help ensure that these 10 projects aren’t viewed in isolation but are instead developed using a joined-up region wide approach to improving transport across South East Wales.

“We will be working closely with the individual Local Authorities to support and monitor the progress of all of the current Phase 1 Metro Plus schemes, and ensure projects are developing in complementary ways.”

Economy and Transport Minister Ken Skates said:

“It’s important that as partners across the region develop projects to extend and develop the South East Wales Metro network over the next few years, that these are planned and delivered in a joined up and coherent way. 

“The draft Framework agreed today will help us to do just that – to look at each of the 10 ‘Metro Plus’ projects that have been put forward and ensure that they are integrated, deliverable and funded in a realistic way.

“I look forward to continuing our excellent working relationship with Transport for Wales, Cardiff Capital Region, the CCR Transport Authority and our other valued partners to deliver the step change we all want to see in public transport right across the region.”

James Price, Chief Executive of Transport for Wales, said:

“Transport for Wales is delivering the South Wales Metro as part of our £5 billion investment programme to transform the transport sector across Wales.  We are keen to work collaboratively with partners to enhance our developments and improve the social, economic, environmental and cultural well-being of Wales.” 

A Strategic Outline Programme for Metro Plus Phase 1 was agreed in principle by Regional Cabinet on 18th February 2019. A report will now be submitted to Regional Cabinet to seek approval to adopt the Common Assessment Framework (CAF) in the Autumn.

Image: Cllr Huw David, Kellie Beirne, and Cllr Andrew Morgan, at Pyle Station, one of the proposed sites for a new Park and Ride facility as part of the Metro Plus programme. 

Barry-based provider of IT services and support, Orbits IT, has created four new appointments as it continues to expand across South Wales and the West Midlands.

Two are for First Line Support Technicians: John Williams, who brings IT expertise from both the private and public sectors; and James Dunn, who leaves the retail sector to bring a wealth of customer service experience to the team.

John and James join Orbits’ seven-strong team of technical servicedesk professionals. The team provides phone-based support and aims to solve 80% of IT issues within 30 minutes.

IT student, Alex Lawson, joins as Orbits’ first Apprentice Desktop Support Technician. Alex has previously completed work experience at Orbits and will now undertake a 12-month full-time placement. Alex is expected to be the first of many Orbits IT apprentices, since the company plans to recruit one apprentice every year as part of its long-term growth plan.

Finally, Rachel Carrie joins the admin team as an Administration and Accounts Assistant.

Orbits IT Managing Director, Jim Lewington, comments:

“We are delighted to welcome John, James, Alex and Rachel to the team. We’re growing year-on-year and the first half of 2019 has been particularly busy. We’ve launched new products and services, including our cybersecurity package, and have secured IT support contracts with a record number of high profile clients.

“By expanding our team in line with our clients and services, we will help ensure we maintain our excellent standard of customer service that is so important to everyone.”

THE search is on to find a new director to lead the Growth Vision for North Wales onto the next stage in its journey.

With Heads of Terms on the verge of being finalised for the £1billion North Wales Growth Deal, it’s a crucial and exciting time for the North Wales Economic Ambition Board.

A Programme Office is being established and the new Programme Director position will be pivotal in taking forward the seven programmes that make up the Deal.

Dyfrig Siencyn, chair of the Ambition Board and Leader of Gwynedd Council, said this permanent role will work closely with the region’s six local authorities, the private sector and representatives from further and higher education, who have been united in bringing the Deal to this point.

“The Programme Director will offer professional leadership and support the Ambition Board to deliver the Growth Vision and the portfolio of programmes,” said Cllr Siencyn.

“Collectively, these programmes and the projects contained within them will make a significant difference to the performance of the regional economy.”

Colin Everett, Chief Executive of Flintshire Council and Lead Chief Executive on the Ambition Board, added: “We need an individual who is experienced in leading large and complex programmes to successful outcomes; who values high professional standards and who can translate values and vision into practice and delivery.

“They will need to have a track record of operating at a senior level and managing complex and varied stakeholder relationships effectively.”

The Ambition Board is also recruiting for a Digital Programme Manager, an Energy Programme Manager, a Land and Property Programme Manager and an Operations Manager.

Iwan Trefor Jones, current Lead Director on the Ambition Board and Corporate Director at Gwynedd Council, is leaving the organisations to become Deputy Chief Executive at social housing group, Cartrefi Cymunedol Gwynedd.

He thanked his colleagues for their support and believes with the firm commitment of the UK and Welsh Government, the Growth Deal will have a significant impact on the region’s economic prosperity for generations to come.

Mr Trefor Jones said: “It has been a great privilege to be part of the team which has been involved in this exciting work and in developing a new and innovative approach to partnership working across North Wales, especially with the private sector, and I look forward to seeing the programmes come to fruition from 2020 onwards.”

Cllr Siencyn added: “”I would like to thank Iwan for the tireless work and leadership he has shown in helping to develop the Growth Vision and the Growth Deal. His dedication, diligence and vision have played a major part in uniting all partners and stakeholders, and we wish him well for the future.”

For more information or to apply for one of the roles within the Programme Office, visit the North Wales Economic Ambition Board website:

Cymraeg: www.northwaleseab.co.uk/cy/swyddi-sgiliau/gweithiwch-i-ni-swyddi-y-bwrdd-uchelgais

English: www.northwaleseab.co.uk/jobs-and-skills/work-us-nweab-jobs