Latest articles from Benjamin Mercer

Employer seeks £265,000 in damages from Plumbing Pensions

Pixabay

A plumbing employer has filed a summons at the Court of Session in Edinburgh seeking more than £265,000 in damages from Plumbing Pensions over its alleged repeated failures to manage the scheme’s Section 75 debt.

Weekly Roundup: A bad week for the DWP

Dreamstime

This week – DWP loses court battle on PPF cap, PHSO takes aim at the department over ‘maladministration’, USS employers pledge greater covenant support, and government U-turns on minimum pension age.

Too much jargon hampers sustainable investing drive

Podcasts

Podcast: Georgia Stewart, chief executive of Tumelo, and Chris Hulatt, co-founder of Octopus Group, talk sustainability, inter-generational fairness and cryptocurrencies.

Too much jargon hampers sustainable investing drive

Podcasts

Podcast: Georgia Stewart, chief executive of Tumelo, and Chris Hulatt, co-founder of Octopus Group, talk sustainability, inter-generational fairness and cryptocurrencies.

Ombudsman slaps fine on ‘reckless’ trustee for multiple breaches

iStock

The Pensions Ombudsman has upheld a complaint against the trustee of a small pension scheme for multiple breaches of trust and instances of malpractice, while demanding they reimburse the scheme to the tune of hundreds of thousands of pounds.

DWP’s stronger nudge is not ‘fit for purpose’

News on the go

On the go: The “stronger nudge” towards guidance recently proposed by the Department for Work and Pensions is inadequate on its own and will impact members too late in the process to have a real effect, according to industry experts.

USS employers pledge greater covenant support

Financial Times

Universities UK, the group representing 340 Universities Superannuation Scheme employers, has pledged additional covenant support to the pension scheme, in a move it said will spare its members the crippling contribution rate rises announced following the scheme’s 2020 valuation.

Industry experts predict limited roll-out of CDC schemes

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The government's consultation on regulations governing collective defined contribution schemes was received as a welcome step forward in the industry, but experts have cautioned that initial demand is likely to be low due to the restrictive conditions and high costs imposed on the market.

DWP’s move to DC universal charge structure could do ‘serious damage’

DWP

Industry commentators are worried about the Department for Work and Pensions’ proposal to introduce a universal annual management charge in defined contribution default funds, warning that the move is premature and could do “serious damage” to the pensions market.

DWP’s ‘vision’ for superfunds to be published later this year

News on the go

On the go: The Department for Work and Pensions intends to set out its “vision” for the future regulation of superfunds in autumn/winter this year, according to its annual report published on Thursday.