Latest articles from Benjamin Mercer

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.

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.