Latest articles from Benjamin Mercer

Threat of action by TPR settles sponsor dispute

News On the Go

On the go: The Pensions Regulator has settled a case in which a pension scheme was placed at risk by an organisational restructure, with the threat of action being sufficient to force an agreement.

DB scheme accounting deficits jump £13bn in a month

News On the Go

On the go: The accounting deficits and liability values of the defined benefit schemes of the UK’s 350 largest listed companies rose by £13bn last month alone, according to research by Mercer.

PASA issues updated Covid-19 guidance

News On the Go

On the go: The Pensions Administration Standards Association has issued updated guidance designed to help administrators navigate the gradual end of lockdown.

Trustees need more pay and diversity, survey finds

News On the Go

On the go: Remuneration levels for trustees and chairs are not sufficient to attract skilled applicants to the roles, while fears are growing that too few trustees are entering the profession, according to a new report by Winmark and Barnett Waddingham.

Schemes cannot eliminate chance of cyber breach

Twitter podcast logo

Podcast: Pension schemes hold an extraordinary amount of personal data. Though trustees have done much since the passage of GDPR to improve data security, it is impossible to remove the risk of breaches entirely. So says ITM director Maurice Titley, joined this week by Aon partner Lynda Whitney to discuss cyber security, McCloud, and Covid-19’s impact on recovery plans.

Financial illiteracy and poor support plague concerned savers

Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.

Small pension pots put AE success at risk

Research released by the Pensions Policy Institute warns that the proliferation of small pension pots risks undermining auto-enrolment success, unless significant government intervention is undertaken.

New DB funding code could imperil sponsors and members

Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.

Premaberg Holdings completes £5m bulk annuity transaction

News On the Go

On the go: Premaberg Holdings, a manufacturer of separation and filtration systems, has completed a £5m annuity buy-in with Just Group for its Premaberg Holdings Limited Retirement Benefits Plan.

McCloud remedy ‘must be implemented efficiently’

News On the Go

On the go: The Association of Consulting Actuaries has warned that the government’s proposed solutions to the McCloud dilemma “must be implemented efficiently” for each affected scheme.