Latest articles from Benjamin Mercer

Timms questions compensation cap on Financial Assistance Scheme

News on the go

On the go: Stephen Timms MP, chair of the Work and Pensions Committee, has written to pensions minister Guy Opperman seeking clarity over the compensation cap placed on the Financial Assistance Scheme.

Weekly Roundup: Nudge it, nudge it real good

iStock

This week – DWP tweaks ‘stronger nudge’ requirements, MPs also urge the department to scrap Opperman’s statement season plans, High Court spares De La Rue a £20m pensions bill, and ABI warns dashboards must be interactive to draw in young savers.

Tweaking the charge cap will not solve DC illiquids conundrum

Pexels

As the government’s consultation on removing performance fees from the charge cap — designed to assist defined contribution schemes looking to invest in illiquids — closed on Tuesday, industry experts have warned that the measure may make very little difference, and may in fact prove counterproductive.

More universities join USS strike

News on the go

On the go: The University and College Union has secured the support of yet more institutions in its campaign for strike action over member benefit cuts in the Universities Superannuation Scheme.

Investment managers’ boardrooms lagging on ESG

News on the go

On the go: Investment managers lack environmental, social and governance experience at boardroom level, with less than a quarter having mandatory training for board members, according to new research.

MPs support CDC development, call for DWP to scrap statement season

Dreamstime

In a wide-ranging report, the Work and Pensions Committee has recommended that the government continue its work on collective defined contribution schemes and, separately, scrap the proposals for a “statement season” favoured by pensions minister Guy Opperman.

DWP tweaks 'stronger nudge' in response to industry complaints

DWP

The Department for Work and Pensions has announced several changes to its proposed “stronger nudge” in response to industry concerns, with the aim being to lessen the burden of administering them.

The Pension SuperFund revamps executive structure

News on the go

On the go: The Pension SuperFund has announced the appointment of a new chief executive officer as part of a governance shakeup as it awaits authorisation from the Pensions Regulator.

Accountancy institute publishes DB guidance for auditors

News on the go

On the go: The Institute of Chartered Accountants in England and Wales has published new guidance aimed at helping auditors understand defined benefit pension scheme figures and establishing best practice when filing requests for information.

Opperman rules out mandatory guidance for 50-year-olds

David Mirzoeff/PA Images

Pensions minister Guy Opperman has ruled out the prospect of automatic appointments for 50-year-olds with Pension Wise as it would be expensive and ineffective.