Latest articles from Benjamin Mercer

PLSA’s retirement living standards now cover 35mn members

News on the go

On the go: Pension scheme communications from more than 100 organisations now provide up to 35mn members with access to the Pensions and Lifetime Savings Association’s retirement living standards, the industry body has announced.

NHS sends almost 3,000 erroneous pension statements

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Nearly 3,000 members of the NHS Pension Scheme have been sent erroneous pension statements, leading to criticism from the British Medical Association.

Ombudsman fines Cabinet Office and civil service scheme admin

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The Pensions Ombudsman has partly upheld a complaint against the Cabinet Office and MyCSP, the administrator of the Civil Service Pension Scheme, after they failed to properly process a member’s request to cease payments to his “added years contract”.

Weekly Roundup: Queen’s crown annoys protesters

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This week – Queen’s Speech measures spark street protests, BBC appeals to High Court to change its DB  benefits, experts warn DWP’s plans to promote illiquids in DC could up costs for members, and 60 per cent of schemes admit they do not expect to meet net zero goals.

Timms demands changes to GMP factsheet after public’s criticism

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Work and Pensions Committee chair Stephen Timms has written to the Department for Work and Pensions demanding that it update and properly publicise its “insufficient” factsheet on guaranteed minimum pensions compensation.

ITV hit with £133mn warning notice by TPR

Reuters

The Pensions Regulator has slapped a £133mn warning notice on broadcaster ITV after it failed to provide adequate support to the Box Clever pension scheme by the regulator’s deadline.

No AE reform, but Queen’s Speech measures spark protests

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There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.

Morrisons promises to protect McColl’s pensions in takeover

News on the go

On the go: Supermarket chain Morrisons has prevailed in the bidding war for troubled retailer McColl’s, beating a rival bid from EG Group. The acquisition will reportedly uphold all promises made to McColl’s pension schemes.

McCloud sees more public sector schemes breach cost-cap ceiling

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Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.

BMA issues stinging rebuke of ‘misleading’ NHS pensions claims

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The British Medical Association has rebuked NHS England and NHS Improvement for what it calls “misleading” information about “punitive pensions taxation” and its impact on staff retention.