Latest articles from Benjamin Mercer

Regulator unveils superfunds guidance for trustees

The Pensions Regulator has published new guidance for defined benefit schemes transferring into a commercial consolidation 'superfund', placing the burden of proof on trustees to show that their plan is in members' best interests.

Sustainability and adequacy still dragging UK's pension system

Data crunch: The UK has fallen one place to 15th in the Mercer CFA Global Pensions Index, despite seeing a marginal improvement in its score, while Covid-19 increases pressure on retirement systems worldwide.

DC contributions too small to allow for sustainable retirements

Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.

PPF eyes deteriorating credit ratings among DB sponsors

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Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.

Charity participants in LGPS face going concern issues

An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.

Small-cap UK active equity funds find some success in H1 2020

On the go: Just over half of all UK active equity funds have equalled or beaten benchmark returns in the first half of 2020, while 45 per cent trailed behind the S&P UK Broad Market Index.

Govt consultation suggests abandoning GMP conversion

The Treasury has indicated it may axe guaranteed minimum pension conversion in a new consultation, with experts citing administrative costs as a reason to ditch the idea.

McCloud remedy could take two years to implement, PLSA warns

On the go: The Pensions and Lifetime Savings Association has warned it may take more than two years for the Local Government Pension Scheme to implement the McCloud remedy, casting doubt on the government’s proposed timeframe.

South Yorkshire pensions to go green by 2030

On the go: The South Yorkshire Pensions Authority, responsible for administering the county’s £9bn local authority pension scheme for its 160,000 members, has adopted a net-zero by 2030 policy to govern its portfolio.

2020 risk settlement market could hit £50bn

On the go: Despite the turmoil caused by coronavirus and the government’s lockdown policy, 2020 could still be a record-setting year for the risk settlement market, with final volumes reaching or even exceeding £50bn, according to estimates from Aon.