Latest articles from Benjamin Mercer

Weekly Roundup: Even more inflation


This week – PPF cites inflation and Covid as biggest concerns, government delays simpler annual statements until next October, HM Treasury publishes its green finance roadmap, and DHSC proposes overhaul of NHS Pension Scheme member contributions.

TPR to demand more asset information from schemes in 2023


The Pensions Regulator has confirmed it will press on with reforming the asset class information it collects via the scheme return, in a consultation response published on Thursday.

Inflation and Covid uncertainty temper PPF performance

Simon Dawson/Bloomberg

Inflation is one of a number of concerns for the Pension Protection Fund, with post-Covid uncertainty tempering reaction to an otherwise positive set of results released in its annual report published on Monday.

Union calls for McCloud fix for civil service retirees

News on the go

On the go: The Public and Commercial Services Union has warned that former civil servants who retired early for health reasons are not being paid what they are owed under the McCloud remedy, and has called on the Cabinet Office to apply the same fix recently agreed with firefighters.

Green finance roadmap still missing key details


The government has published its “roadmap to sustainable investing”, laying out a number of new reporting requirements. However, some experts have warned that the plan does not go far enough to make a real difference.

Simpler statements delayed until October 2022

News on the go

On the go: The government has decided to delay the introduction of simpler annual benefits statements until October 2022, following industry concerns about the amount of work required to implement them.

PPF pays out £1bn but fraud compensation claims raise concerns

Chris Ratcliffe/Bloomberg

The Pension Protection Fund paid out £1bn in member compensation in 2020-21, but there are concerns as potential claims with a value in excess of £358m against its Fraud Compensation Fund vastly exceed the money available to pay them, according to the PPF’s annual report.

Employers hit back at benefit cut claims as USS strike action looms

News on the go

On the go: Universities UK, the group representing 340 Universities Superannuation Scheme employers, has hit back at claims from University and College Union that a reform package agreed with the USS trustee will lead to members suffering benefits reductions of 35 per cent.

Members on lower incomes to pay more in NHS pensions overhaul


The government has announced its intent to overhaul the way in which NHS Pension Scheme members pay contributions from April next year, following the implementation of the McCloud remedy.

Weekly Roundup: Not so simple statements


This week – Guy Opperman pledges ‘simple annual benefits statements’, the Government Actuary’s Department agrees with HM Treasury’s cost-control mechanism reforms, most pension schemes falling short on ESG commitments, and BT Pension Scheme deficit improves on back of recovery plan.