Latest articles from Benjamin Mercer

LGPS escapes McCloud cost-cap breach

News on the go

On the go: The Local Government Pension Scheme in England and Wales, alongside its Scottish and Northern Irish equivalents, has avoided the cost-cap breach suffered by a number of other public sector schemes resulting from the impact of the McCloud remedy cost on their 2016 valuations.

Weekly Roundup: Our time is running out

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This week – Industry slams the DWP’s dashboards launch date proposals, more calls for clarity over TPR’s new enforcement powers, the BMA pushes for the expedition of the McCloud remedy and the introduction of pension recycling, and B&CE and a building company given a ticking off from the ombudsman.

Trustees urged to include ESG factors in covenant assessment

News on the go

On the go: Accounting for Sustainability and the Employer Covenant Practitioners Association have teamed up to launch a ‘top tips’ guide for considering environmental, social and governance risk in the employer covenant process, hailed by the Pensions Regulator chair Sarah Smart as “an important first port of call for trustees”.

DWP’s dashboards consultation criticised over launch date proposals

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A second government consultation into pensions dashboards has been criticised over plans to give schemes just 90 days’ notice before the dashboards go live, with experts warning of a capacity crunch.

Industry calls for clarity on TPR’s enforcement powers

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Industry experts, though broadly supportive of the Pensions Regulator’s approach to its new enforcement powers, have nonetheless called for additional clarity in how they will be used, with some concerned that outcomes could be determined in part by “luck”.

Retirement guidance is improving but decumulation challenges remain

News on the go

On the go: Support available to those approaching retirement is improving, particularly in master trusts, but a comprehensive framework is still required to ensure all savers get the help they need, according to new research.

PDP connects first commercial dashboard provider

News on the go

On the go: The Pensions Dashboards Programme has completed the connection of the first commercial dashboard provider, alongside another integrated service provider.

Weekly Roundup: Lower your shields and prepare to be onboarded

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This week – trustees warned about ‘truly’ imminent dashboards deadline, the cost of discretionary pension increases soars to £18bn, the ABI calls for the minimum auto-enrolment contribution level to be raised to 12 per cent, and another initiative is launched to encourage people to make greener pension choices.

ONS reveals schemes’ overseas investments and assets

News on the go

On the go: The Office for National Statistics has published data on UK-funded occupational pension schemes’ overseas assets and direct investments for the first time.

Cost of discretionary increases to combat inflation could hit £18bn

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The cost of awarding discretionary increases to members could now add £18bn to defined benefit schemes' liabilities, experts have warned, as inflation continues to rise.