Latest articles from Benjamin Mercer

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.

One in five schemes considering superfunds

News On the Go

On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.

Government plans to push ahead with small scheme consolidation

News On the Go

On the go: The government looks set to press ahead with plans to encourage small schemes to consolidate, according to analysis of consultation documents by LCP.

Insolvency bill retains potential to damage DB schemes

Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.

Widespread industry support for regulator’s Covid-19 response

News On the Go

On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.

OECD encourages regulators to be flexible in response to pandemic

News On the Go

On the go: Policymakers should allow for regulatory flexibility in their approach to recovery plans to make sure that people saving for retirement stay the course during the Covid-19 crisis, the OECD has recommended.

Work and pensions committee urged to open inquiry into scams

News On the Go

On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.

Seven-year scam poses ‘serious questions’ for TPR

The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.

BoE governor reignites row between superfunds, insurers and regulators

Andrew Bailey 0720 (teaser)

In an intervention that laid bare a deep divide both in the industry and between regulators, Bank of England governor Andrew Bailey has reignited a long-running feud between traditional insurers and advocates of new superfund models, while casting doubt on the Pensions Regulator’s ability to oversee consolidators.