Latest articles from Benjamin Mercer

Tackling climate change will require a ‘step change’ in governance

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Podcast: Stuart O’Brien, partner at Sackers, and Tegs Harding discuss climate change and responsible investments, another row at the Universities Superannuation Scheme, and the cartelisation of the advisory market.

Govt opts for deferred choice underpin solution to McCloud

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The government has confirmed it will opt for the deferred choice underpin solution to the McCloud problem, which despite being the right choice according to pensions specialists, will open the floodgates of admin woes for public sector schemes.

Nine out of 10 DC savers expect retirement shortfall

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On the go: Almost 90 per cent of defined contribution scheme members expect a shortfall in retirement income based on current provision, while almost a quarter of people think they will never be able to retire, according to the latest edition of Aon’s DC member survey.

Master trust competition hots up despite consolidation

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Data crunch: The majority of master trusts are targeting defined contribution schemes in a bid to boost their assets under management, leading to heightened competition in a marketplace where there is scepticism about acquiring rivals.

Weekly Roundup: It’s a revolution, comrades!

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Welcome to Pensions Expert’s roundup of a week that saw the Department for Work and Pensions publish its horrifically long response to the ‘Taking action on climate risk’ consultation, in which allegedly Conservative minister Guy Opperman promised a “revolution”.

Industry body proposes general levy cap

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The Society of Pension Professionals has criticised the government’s plans to introduce a 120 per cent general levy hike for defined benefit schemes.

GMP tax guidance expected to land in February

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On the go: Guidance from the Pensions Administration Standards Association on the tax implications of guaranteed minimum pensions equalisation is expected to be published next month, according to an update from the body’s dedicated working group.

Trustees demand greater access to technology to support their role

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On the go: The coronavirus pandemic has seen off the quarterly meeting cycle, with 80 per cent of trustees agreeing that ad hoc and online meetings are the way forward, according to new research.

PPF halves small scheme levy but warns of future rate hikes

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On the go: The Pension Protection Fund has confirmed it will halve the levy for schemes with less than £20m in liabilities in order to “better reflect the risk posed by small schemes”, according to the final version of its 2021-22 levy rules.

DWP proceeds with ‘revolutionary’ climate change agenda

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The Department for Work and Pensions has proposed broadening the scope of climate risk analysis to cover not just the environmental impact of pension schemes’ portfolios, but also sponsor covenants and actuarial valuations.