Latest articles from Benjamin Mercer

Lawsuit against USS to proceed as High Court overturns dismissal

News on the go

On the go: A lawsuit against Universities Superannuation Scheme directors over their handling of the scheme’s 2020 valuation is to proceed, after the High Court ruled against attempts to deny the legal action.

Commuters face travel chaos as TfL workers strike over pension cuts

Bloomberg

Commuters on the London Underground face two days of travel chaos as Transport for London staff strike over planned pension cuts.

High Court resolves Merchant Navy ill-health pensions conundrum

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The High Court has approved a settlement over ill-health benefits in the Merchant Navy Ratings Pension Fund, which will see members compensated via lump sum arrears and increased pensions to those who had not been treated in accordance with scheme rules.

Universal charges could harm master trust competition

Podcasts

Podcast: The People’s Pension’s director of policy Phil Brown and head of pensions policy Tim Gosling discuss defined contribution scheme charge structures, decumulation solutions, and baffling pensions jargon.

Earnings trigger remains unaltered in auto-enrolment expansion bill

Bloomberg

A bill to expand automatic enrolment, to be debated in parliament on February 25, will not look to remove the £10,000 earnings trigger contrary to initial expectations.

Weekly Roundup: No end in sight for USS

Pexels

This week – Tensions rise between trade unions and USS employers, MPs approve an amendment against political divestments by public sector schemes, Norfolk County Council leads a class action lawsuit against tech giant Apple, and only two people bother to reply to the government’s GMP revaluation rate consultation.

MPs back amendment against political divestments by LGPS

Bloomberg

MPs in the House of Commons have approved an amendment that would allow ministers to issue guidance stymieing the ability of public sector pension schemes, including the Local Government Pension Scheme, to pursue politically motivated boycotts and divestment policies.

USS deal pushed through as unions threaten more strikes

iStock

Employers have agreed a deal with the trustee of the Universities Superannuation Scheme that will stave off “ruinous” contribution rate hikes resulting from its controversial 2020 valuation, but unions are threatening further industrial action over what they say amounts to a 35 per cent cut to member benefits.

Private schools offer olive branch over teachers’ pension strikes

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The Girl’s Day School Trust has made a new offer to teachers striking over plans to withdraw from the Teachers’ Pension Scheme, but unions have branded the proposal “very disappointing”.

Buck launches ‘gap analysis’ governance solution

News on the go

On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.