Latest articles from Benjamin Mercer

Pension schemes bill could have ‘unintended consequences’

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Podcast: The Pensions and Lifetime Savings Association’s LGPS and DB policy lead Tiffany Tsang and Eversheds Sutherland partner Jeremy Goodwin join us to discuss potential “unintended consequences” from the pension schemes bill, fallout from the insolvency bill, and Richard Curtis’s Make My Money Matter campaign.

Covid-19 could lead to 75% hike in deficit repair contributions

Deficit repair contributions may need to increase by 75 per cent if defined benefit schemes are to meet their recovery plan end dates, according to analysis published by the Pensions Regulator.

Nissan workers protest against DB scheme closure

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On the go: Workers at Nissan’s Sunderland plant will stage a socially distanced protest on Saturday against the carmaker’s proposal to close its defined benefit scheme.

Pensions Ombudsman unhappy with FOS overlap

Pensions Ombudsman Anthony Arter believes the current overlap with the Financial Ombudsman Service should be addressed as the current stance is “confusing and not satisfactory”.

UBS pension scheme enters into £1.4bn longevity hedge

News On the Go

On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.

Environment Agency scheme takes aim at private equity ESG failings

The Environment Agency Pension Fund, one of the UK’s largest public sector pension schemes and long-acknowledged as a leader in ethical and sustainable fund management, was among the first to sign up the Make My Money Matter campaign. While the fund has made great strides in making its portfolio more sustainable, the pressure is on its private equity managers to go even further.

Formal superfunds authorisation could take 5 years

The Pensions Regulator anticipates that it could take five years for the government to put in place a statutory authorisation framework to oversee defined benefit superfunds, as it looks ahead to publishing specific guidance for trustees considering a transfer to the new vehicles.

Scottish Widows looks to overcome long-term market challenges

Scottish Widows has announced plans to enhance its asset allocation strategy in response to lower projected returns and potentially long-lasting volatility as a result of the coronavirus crisis, following a strategic review conducted earlier this year.

Lockdown sees third of savers taking action on pensions

Data crunch: Seven million people, representing more than a third of savers, have taken action relating to their pensions during the coronavirus lockdown, with almost one in three reviewing their spending habits more often, according to analysis by Aviva.

Ex-chancellor calls for flat-rate pension tax relief

News On the Go

On the go: Former chancellor of the exchequer Sajid Javid has called for a flat-rate pension tax relief as part of a wide-ranging post-Covid recovery plan published by the Centre for Policy Studies.