Latest articles from Benjamin Mercer

Edinburgh Woollen Mill collapse leaves £17.5m pension black hole

Edinburgh Woollen Mill (teaser)

Clothing and homeware manufacturer Edinburgh Woollen Mill’s collapse into administration has sparked fears its defined benefit scheme will not recover the £17.5m owed to it.

Trustees cannot outsource responsibility for cyber risk

News On the Go

On the go: Trustees bear ultimate responsibility for managing cyber risk even when they outsource administration to a third party, and must ensure they carry out due diligence, according to a new report.

Plumbing business freed of DB scheme liability

News On the Go

On the go: UK-based heating and plumbing distribution business Wolseley is set to be freed of its defined benefit scheme liability following its acquisition by a private investment company.

Investments in 2021: The year we ‘build back better’?

Investments in 2021 (teaser)

Three themes that will shape the investment sector in the year ahead.

More work needed to make ESG meaningful

Wind turbines, sunset

Scarcely a week passes without an announcement of a new environmental, social and governance-oriented venture. But experts warn more needs to be done if onlookers are to be confident that words have meaning.

Weekly roundup: Merchant Navy gets in line as general levy returns

Red ensign flag (teaser)

Welcome to Pensions Expert’s roundup of a week that saw the Pensions Regulator throwing its considerable bulk around. 

TCFD reporting requirements leave too little time for compliance

News On the Go

On the go: Almost half of respondents to a poll carried out by Eversheds Sutherland expressed a fear that trustees will not have time to comply with new climate change reporting requirements before they are introduced.

Small pots report recommends member exchange trials

The pensions industry should begin work to facilitate mass exchanges of sub-scale defined contribution accounts, according to a government-commissioned working group looking to address the problem of small pots.

Threat of TPR action forces changes to merchant navy trustee board

News On the Go

On the go: A four-year bitter dispute over the running of a naval industry pension scheme has finally been brought to a close by the Pensions Regulator, after it identified governance failings that had cost the scheme £1m.

Aftershocks from 2020 could see wave of DB scheme closures

News On the Go

On the go: The events of 2020, combined with exacerbating longer-term trends, could spark a wave of benefit reviews by UK companies, which in turn could result in a large number of defined benefit schemes closing in 2021, according to a new report by Aon.