Latest articles from Benjamin Mercer

Seven-year scam poses ‘serious questions’ for TPR

The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.

BoE governor reignites row between superfunds, insurers and regulators

Andrew Bailey 0720 (teaser)

In an intervention that laid bare a deep divide both in the industry and between regulators, Bank of England governor Andrew Bailey has reignited a long-running feud between traditional insurers and advocates of new superfund models, while casting doubt on the Pensions Regulator’s ability to oversee consolidators.

High Court rules ‘drafting errors’ sufficient to justify switch to CPI

A High Court decision has found in favour of a pension scheme switching to the consumer price index from the retail price index, but only because of a drafting error in the scheme’s rules.

MPs urge regulator to reassure struggling employers

News On the Go

On the go: The Work and Pensions Committee has called for clarity from the Pensions Regulator over its Covid-19 enforcement procedures, voicing concerns that some “conscientious employers” will be reluctant to take advantage of easements.

Aviva strikes £150m buy-in with General Healthcare Group

News On the Go

On the go: Insurer Aviva has secured a £150m buy-in contract with the General Healthcare Group & Life Assurance Plan.

2020 set to be a record-breaking year for longevity swaps

News On the Go

On the go: Demand for longevity swaps is expected to set new records in 2020, reflecting in part a slight slowdown in the bulk annuity market, according to a report by Willis Towers Watson.

Cash-strapped money printer cuts deficit repair contributions

British banknote printer De La Rue has cut deficit repair payments to its defined benefit pension scheme, contingent on the success of its bid to raise an extra £100m in capital.

Transparency initiative adds new tools following industry support

News On the Go

On the go: The Cost Transparency Initiative has released additional resources and a new set of tools aimed at encouraging more schemes and asset managers to sign up to the standard, following a strong show of support by the industry for the framework it published last year.

Peers push for clarity over insolvency measures

News On the Go

On the go: Members of the House of Lords have pressed the government to provide clarity over the impact of new insolvency laws on pension schemes.

Pensions compliance with furlough tapering ‘horrendously complicated’

The Pensions Regulator’s updated guidance on auto-enrolment and defined contribution schemes is likely to lead to large numbers of mistakes being made, some experts predict, as employers have to grapple with the bifurcated system resulting from the slow death of furlough.