Latest articles from Benjamin Mercer

PASA rejects single provider approach to dashboards digital identity

News On the Go

On the go: The Pensions Administration Standards Association has objected to the proposal by the Pensions Dashboards Programme for a “central digital identity”, arguing that it would create a “single point of failure”.

NAO urges govt to address McCloud’s administrative impact

Dreamstime

The National Audit Office has urged HM Treasury to address the administrative impact of the McCloud remedy as a matter of urgency, while highlighting a need to tackle the problem of cost control in public sector pensions.

Weekly Roundup: USS Foundering stays its course

Pexels

This week – tensions between UUK and the USS, a drive to beef up anti-scam intelligence sharing, defeat at the Supreme Court for BackTo60, and the FCA and TPR attempt to clear up guidance confusion.

Fairs: TPR’s criminal powers policy will evolve with experience

Podcasts

Podcast: The Pensions Regulator’s policy around the use of its controversial new powers “will evolve” in response to evidence, court cases and industry experience, its director of regulatory policy, analysis and advice, David Fairs, has revealed.

USS rejects attempt to reopen controversial valuation

University graduates (teaser)

The Universities Superannuation Scheme has rejected a request by Universities UK, the advocacy group representing 340 higher education employers, to revisit the controversial assumptions behind its most recent valuation.

Guidance brings ‘welcome clarity’ for trustees over financial advice

News On the Go

On the go: New guidance from the Financial Conduct Authority and the Pensions Regulator has clarified what constitutes unregulated financial advice, allowing schemes to offer cash equivalent transfer value quotations and annuity estimates, but banning drawdown illustrations.

Industry facing trustee exodus due to TPR’s new powers

Dreamstime

Concerns about the reach and remit of the new powers afforded to the Pensions Regulator have not been addressed by its guidance or draft policy, and are even forcing some trustees to quit, Aon has said.

MPs call on government to mandate anti-scam intelligence sharing

Cyber crime

MPs on the Work and Pensions Committee have called on the government to beef up anti-scam intelligence sharing via legislation, amid warnings tech giants are profiting from pension scam adverts.

Weekly Roundup: The Swanson Code

Laptop

This week – TPR’s new code of practice, the impact of the tax ‘super-deduction’, the state of the risk transfer market, and DB schemes’ £41bn deficit jump.

DWP consults on removing charge cap DC investment barrier

News On the Go

On the go: The Department for Work and Pensions on Friday opened a consultation into whether the charge cap acts as a barrier to defined contribution scheme investments in a range of alternatives, such as venture capital, illiquids and growth assets.