Latest articles from Benjamin Mercer

Buck launches ‘gap analysis’ governance solution

News on the go

On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.

Govt confirms GMP revaluation rate after receiving only two responses

News on the go

On the go: The Department for Work and Pensions will be lowering the guaranteed minimum pension fixed rate revaluation for early leavers by 0.25 percentage points, after its consultation into the matter attracted just two responses.

Universities reject union’s USS valuation solution

Graduates

Employers have rejected proposals from the University and College Union to end the impasse over the Universities Superannuation Scheme’s 2020 valuation, while yet more institutions have seen staff walk out on strike.

Norfolk Pension Fund takes Apple to court over losses

Reuters

A court in California has granted Norfolk County Council’s petition, on behalf of the Norfolk Pension Fund, to be named lead representative in a class action lawsuit against Apple over alleged securities fraud.

Royal Mail moves ahead with CDC scheme after consultation

News on the go

On the go: Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members.

Weekly Roundup: Scams? Boris Johnson?

Reuters

This week – PM ignores three letters from a prominent campaigner on pension scams, government dismisses reports it guaranteed USS liabilities, Weir scheme and Capita ordered to pay member after GMP blunder, and FRC decides that pensions dashboards should probably be useful.

Govt dismisses USS guarantee as employers discuss new proposals

Pexels

The Department for Education has dismissed the significance of a guarantee of Universities Superannuation Scheme benefits that early reports suggested could constitute a full government underwrite of the scheme, while employers have announced a short consultation on union proposals to resolve the 2020 valuation dispute.

Inconsistent retirement estimates could undermine dashboards

Dreamstime

Consumer confidence in the pensions dashboards could be undermined unless the methodology for calculating estimated retirement income is standardised and aligned with statutory money purchase illustrations, the Financial Reporting Council has said.

Buck completes first ‘standalone’ GMP equalisation project

News on the go

On the go: Buck claims it has completed the industry’s first ‘standalone’ guaranteed minimum pension equalisation project.

Regulators should look at the role of introducers in British Steel scandal

News on the go

On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.