Latest articles from Benjamin Mercer

Weekly Roundup: The scheme design from hell

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This week – Capita fined, missing records at Jaguar Land Rover and Mercer, another NHS crisis, and a crackdown on exit fees in the public sector.

Schemes struggle to educate members amid cost of living crisis

Podcasts

Podcast: Society of Pensions Professionals president Steve Hitchiner is joined by AgeWage chief executive Henry Tapper, founder of the Pension Playpen, to discuss recession fears, consumer protection for dashboards and expanding long-term asset funds.

Calls for stewardship code to engage members as well as managers

News on the go

On the go: The Financial Reporting Council’s stewardship code must “look both ways” and engage members as well as asset managers in developing guidance and standards, according to fintech company Tumelo.

Cornish housing association pilots ‘living pension’

News on the go

On the go: A Cornish housing association is piloting a ‘living pension’ scheme for its employees, building on research that suggests some savers’ pension contributions will need to rise to more than double their current rate.

Public sector retirees face higher exit payment scrutiny

HM treasury logo (teaser)

Substantial exit payments resulting from pension strain arrangements in the public sector will likely see people nearing retirement having their cases referred to HM Treasury, under a proposed new regime.

Scams action group gets six-figure budget to tackle fraud

News on the go

On the go: The Pension Scams Action Group, a renamed and revamped Project Bloom, is to get a six-figure budget to tackle scams across the next year, with the prospect of more to come.

Waiting times a problem as demand for Pensions Ombudsman rises

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The Pensions Ombudsman has been successful in its application for additional funding, part of which will go towards establishing its new pensions dishonesty unit, and tackling customer waiting times as demand is expected to rise by at least 10 per cent over the next year.

Govt to consult on further LGPS McCloud regulations in 2023

News on the go

On the go: The Department for Levelling Up, Housing and Communities is to consult on further regulations governing the application of the McCloud remedy to the Local Government Pension Scheme.

Ombudsman fines Capita for substandard administration

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The Pensions Ombudsman has told Capita to pay £500 to a disgruntled scheme member as its communications “fell below the standards of good administration”, though the member’s substantive complaint was not upheld.

Taylor Wimpey suspends escrow payments

News on the go

On the go: Home construction company Taylor Wimpey has suspended escrow payments to its defined benefit pension scheme due to its strong funding position.