Latest articles from Benjamin Mercer

Positive outlook for bulk annuity transactions in 2022

News on the go

On the go: Insurers’ appetite for bulk annuities could be heightened in 2022 after a relatively slow 2021, according to research from Barnett Waddingham.

Govt to consult again on McCloud implementation in 2022

Fotoware

The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.

Union slammed as ‘at odds with reality’ as USS strike action begins

News on the go

On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.

Clara Pensions to begin accepting transfers after TPR clearance

Flickr

The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.

Teachers’ Pension Scheme faces high-profile ombudsman complaints

Pexels

The Teachers’ Pension Scheme is facing a number of potential high-profile complaints to the Pensions Ombudsman over alleged maladministration, including a grievance about a £98,000 overpayment, Pensions Expert can reveal.

Cabinet Office opens consultation as McCloud challenges mount

iStock

The Cabinet Office has launched a consultation on how the McCloud remedy is to be implemented for members of the civil service pension scheme, while the GMB union has joined the list of those challenging it in the courts.

Union ballots for strike action over schools’ exit from Teachers’ scheme

News on the go

On the go: The National Education Union is balloting its members on industrial action over plans by the Girls’ Day School Trust to exit the Teachers’ Pension Scheme.

Regulatory burden prompts fears of trustee exodus

News on the go

On the go: Three-quarters of employers fear the trustees of their pension schemes will consider resigning rather than face an “onslaught” of regulatory and legislative change, according to a survey from the Association of Consulting Actuaries.

COP26 sees 12% uptick in net zero commitments

Reuters

More than half (52 per cent) of insurers and 50 per cent of pension funds have committed to making their portfolios net zero by 2050, up 12 per cent from last year, according to a new report from Aviva Investors.

Weekly Roundup: DWP cancels Jack Bauer

Flickr

This week — UK government considers doing away with ECJ’s Bauer ruling, 58 universities set to face strike action in early December, BMA threatens the government with legal action over McCloud remedy costs, and Mitchells & Butlers trustees win “significant” inflation court case.