Latest articles from Benjamin Mercer

New DB funding code could imperil sponsors and members

Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.

Premaberg Holdings completes £5m bulk annuity transaction

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On the go: Premaberg Holdings, a manufacturer of separation and filtration systems, has completed a £5m annuity buy-in with Just Group for its Premaberg Holdings Limited Retirement Benefits Plan.

McCloud remedy ‘must be implemented efficiently’

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On the go: The Association of Consulting Actuaries has warned that the government’s proposed solutions to the McCloud dilemma “must be implemented efficiently” for each affected scheme.

Covid-19 forces half of DC schemes to review objectives

The coronavirus pandemic has compelled more than 50 per cent of defined contribution schemes to review their objectives and 20 per cent to alter their short-term plans, according to a report by Aon.

New GMP guidance stops short of clarifying rules around conversion

New guidance on guaranteed minimum pensions has clarified the tax implication of equalising past inequalities between men and women, but critics have said it leaves unaddressed important questions for schemes hoping to convert GMPs into regular scheme benefits.

Nest eyes 2026 breakeven amid increased revenue

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On the go: Master trust Nest has seen its income rise 75 per cent over the course of last year while its expenditure fell by £20m, leaving it well placed to weather the effects of the coronavirus pandemic, according to its latest annual report.

Government ponders solutions to £17bn McCloud problem

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The Treasury has set out two proposals for ending the discrimination between scheme members that resulted from its 2015 public sector pension reforms, with costs of unwinding its scheme changes estimated to cost £17bn.

LGPS faced with huge McCloud admin challenge

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On the go: Local Government Pension Scheme administering authorities urgently need to carry out impact assessments to clarify how many of their members fall under the scope of the McCloud judgment, according to Aon.

USS strikes £300m deal with with affordable housing investors

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The Universities Superannuation Scheme has entered into a £300m 45-year debt facility arrangement with a real estate investment trust to boost shared ownership housing developments.

Trend towards master trusts continues apace

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On the go: The rate at which FTSE 250 companies move to master trusts as their main defined contribution vehicle is set to accelerate over the next two years, according to a new report from Willis Towers Watson.