Latest articles from Benjamin Mercer

Bulk annuity volumes hit £12.6bn in H1 2020

News On the Go

On the go: Total buy-in and buyout volumes reached £12.6bn in the first half of this year, the second-highest value on record, according to analysis published by LCP.

Smaller schemes to prove value for members or face consolidation

Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.

DB schemes could be ‘doomed to failure’ by new funding code

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Podcast: Defined benefit schemes could be “doomed to failure by measures that are designed to help them”, warns Baroness Ros Altmann, referring to the proposed new funding code.

LCP: ‘Pot-follows-member’ could solve small pots problem

News On the Go

On the go: The government has been urged to look again at a ‘pot-follows-member’ solution to the small pots problem plaguing auto-enrolment and master trusts.

Employers exiting LGPS to get new powers

News On the Go

On the go: Local Government Pension Scheme administering authorities and employers are to be given a host of new powers, as well as flexibility on exit payments, the government has announced.

Shots in the dark?

Shots in the dark?

The mounting evidence questioning the value of consultants’ manager research recommendations.

DB pension deficit falls £59bn in August

News On the Go

On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £59bn in August.

USS announces ‘challenging’ valuation consultation

The Universities Superannuation Scheme has launched a consultation with employers over its 2020 valuation, which at worst could present a £17.9bn deficit. But it faces a fight with the Universities and College Union, which said it had no confidence in the “needlessly cautious” approach taken by the USS.

TPR looks to reclaim £250,000 from fraudster

News On the Go

On the go: The Pensions Regulator has announced it is attempting to recoup £250,000 from a convicted fraudster.

Master trusts to face cost challenges in years ahead

The fallout from the Covid-19 pandemic is only the latest in a long line of structural challenges the master trust industry must face in coming years, according to a new report from the Pensions Policy Institute.