Latest articles from Benjamin Mercer

McCloud rebellion grows as six unions file for judicial review

Royal Courts of Justice

Six trade unions want to take the government to court in a bid to stop it imposing the cost of the McCloud remedy on their members, with one considering strike action.

‘Transitory’ inflation soars to 10-year high, with more pain to come


Inflation soared to a 10-year high of 5.1 per cent in the year to November 2021, and those who once argued that the inflationary trend would be transitory are now warning that the worst is yet to come.

TPR’s DB funding code consultation delayed until ‘late summer’ 2022


The second consultation into the Pensions Regulator’s new defined benefit funding code will be delayed until “late summer” 2022.

DB funding code’s bespoke route could reduce schemes’ costs


Forty per cent of FTSE 350 defined benefit schemes will not be sufficiently well funded to opt for the ‘fast-track’ route in the Pensions Regulator’s forthcoming DB funding code, but the bespoke route offers significant cost savings.

DB scheme membership plummets 2.5m in 10 years

News on the go

On the go: New data from the Pensions Regulator shows that defined benefit schemes continued to decline in 2020-21, a decrease that has gone almost unbroken since 2012.

Scottish pensions agency proposes raft of LGPS amendments

Robert Churchill/Getty Images

The Scottish Public Pensions Agency has launched a consultation into a host of changes to the Local Government Pension Scheme in Scotland, covering early payment of pensions, survivor benefits and the cost cap.

DB schemes derisk investments as funding levels improve

News on the go

On the go: Defined benefit schemes are increasingly looking to derisk their investment approach to protect their improved funding levels, according to new research from Aon.

Regulators’ value for money paper branded ‘utopian’ by SPP

News on the go

On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.

PLSA calls for ‘major review’ of Fraud Compensation Fund

News on the go

On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.

Industry concerns remain over anti-scam transfer restrictions


Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS webinar has heard.