Latest articles from Benjamin Mercer

Union considers AA scheme closure ‘significant attack’ on members

AA (teaser)

The recent closure of the Automobile Association defined benefit scheme – following a consultation with scheme members and trustees – has been branded a “significant attack on members’ benefits” by trade union GMB.

Nest member waits two years to recover £80 in missed contributions

The Pensions Ombudsman has finally brought to a close a woman’s two year hunt for £80 in missed contributions from her employer.

LGPS cash flow problems mount as Covid-19 crisis continues

A number of local government pension schemes face cash flow problems as a result of the coronavirus crisis, according to a recent survey.

Coronavirus hits unhealthy DB schemes hard

Data crunch: A new report from consultancy Barnett Waddingham has found that the coronavirus crisis has exacerbated the funding divide between UK defined benefit schemes, with severe implications for those at the bottom of the pile.

Regulator concerned by master trust investments weaknesses

Investment strategies pursued by some of the UK’s authorised master trusts are exposing pension scheme savers to unnecessary risks, according to the Pensions Regulator.

Investors tell Barclays to go further on climate commitments

On the go: Two Local Government Pension Scheme investors are to back a shareholder resolution aimed at forcing Barclays into line with the Paris Climate Agreement targets.

APPT announces provisional accreditation to sidestep lockdown

On the go: The Association of Professional Pension Trustees has unveiled a new provisional accreditation scheme.

Company stung by £80,000 HMRC charge for unauthorised pension loan

A light fittings company has been hit with an £80,000 scheme sanction charge by HM Revenue & Customs for making an unauthorised loan from its pension fund to an affiliated business.

BA trustees disembark as destination comes into view

British Airways (teaser)

A British Airways defined benefit scheme is shrinking its trustee board size, due to decreased workload after a buy-in and successfully weathering the Covid-19 funding storm.

Minister urges saver caution over scams

On the go: The government has cautioned against savers making hasty alterations to pensions, warning that rash decisions motivated by fears surrounding the coronavirus crisis and market crash may be exploited by scammers.