All articles by Benjamin Mercer – Page 10
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NewsLGA calls for 2025 dashboards deadline amid capacity crunch fears
The Local Government Association has called for the staging date by which the Firefighters’ Pension Scheme is to join the dashboards to be set back, arguing that it is not feasible to expect the scheme to join before 2025.
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NewsStaffordshire University staff to walk out over pension reform
On the go: Staff at Staffordshire University are set to walk out over plans to hire new staff through a subsidiary company, meaning they will not be given access to a defined benefit pension.
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NewsUSS discourages use of alternative benefits modellers
On the go: The Universities Superannuation Scheme has discouraged members from using alternative benefits modellers to work out how they will fare following the conclusion of the scheme’s 2020 valuation, warning that they operate on very different assumptions to those agreed by employers and the trustee.
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NewsGovt’s dashboard proposals cause widespread industry concerns
The Pensions and Lifetime Savings Association has recommended three thresholds that must be met before pensions dashboards are launched to the public, but there is widespread industry concern around liability for incorrect or misinterpreted information, and significant doubts whether its launch is achievable by the government’s preferred dates.
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PodcastsPodcast: Is this really the right time for auto-enrolment expansion?
Podcast: Expanding auto-enrolment is a great idea in theory, but with sky-high inflation, a cost of living crisis and the potential for a global recession to exacerbate it, is now the right time to pursue it? LCP partner Mary Spencer and Cartwright’s director of investment consulting Sam Roberts debate the merits, discuss pension schemes’ reaction to war in Ukraine, and explore the industry’s readiness for long-term inflation.
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NewsGovt to compensate judges for additional McCloud tax bills
The Ministry of Justice has announced it will compensate judges who incur additional tax liabilities as a result of the immediate choice they will take later this year, while other departments left their proposals largely unchanged following consultations on phase one of the McCloud remedy.
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NewsTPR not ruling out ‘value for money’ league tables
On the go: The Pensions Regulator is considering league tables as a way of implementing a new value for money framework for pension schemes, though it is not “leaning towards” them at present.
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NewsOpperman slates lack of long-term vision in pensions, hints at reshuffle
Pensions minister Guy Opperman has suggested a reshuffle may be on the cards, and has criticised a perceived lack of long-term vision in the pensions industry.
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NewsStrike suspended as schools and unions meet over teachers’ pensions
On the go: Unions have suspended plans for more strike action at 23 private schools to allow talks to take place over planned changes to teachers’ pensions.
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NewsFTSE 100 firms lagging on data, half of schemes have impact investments
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with a majority of FTSE 100 companies still failing to disclose diversity and welfare data in their annual reports, and Big Society Capital finding that half of all UK pension funds now hold some form of impact investment.
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NewsMcCloud legislation on track for April
On the go: Secondary legislation necessary for the implementation of the McCloud remedy is on track to be published by April 1, and another round of consultations is due before October, the government has confirmed.
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NewsDashboards’ staging deadline too ambitious for LGPS
The government’s timetable for dashboards’ integration is likely to be too ambitious for the Local Government Pension Scheme, with administering authorities bogged down by other challenges, its pensions committee has warned.
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NewsUCU threatens yet more strikes over employers’ USS deal
On the go: The University and College Union has threatened yet more industrial action, including a marking and assessment boycott, as the row over the resolution of the Universities Superannuation Scheme’s 2020 consultation escalates.
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NewsGovernment to impose McCloud costs despite significant opposition
The government has confirmed it will impose the costs of the McCloud remedy on public sector schemes’ 2016 valuations, despite its consultation garnering significant opposition from members and trade unions.
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NewsOpperman promises GMP conversion tax fix
On the go: Pensions minister Guy Opperman has clarified some of the provisions in a bill regarding guaranteed minimum pensions conversion, and pledged to work with HM Revenue & Customs on the tax implications.
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NewsDC focus turns to member outcomes but retirement uncertainty remains
Data crunch: Despite almost half of defined contribution schemes now stating their main aim is to deliver adequate retirement income for members, 63 per cent do not know what is the expected outcome for a typical member at retirement, according to new research.
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NewsNest piles pressure on Unilever over healthy eating
On the go: Nest has backed a resolution calling on consumer goods giant Unilever to make its food products healthier.
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NewsSurvivors must wait for McCloud remedy for pensions clarity
Survivors of deceased public sector scheme members may have to wait for the McCloud remedy to be implemented before discovering whether they are entitled to any of their spouse’s pension, a government minister has said.
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NewsCommuters face travel chaos as TfL workers strike over pension cuts
Commuters on the London Underground face two days of travel chaos as Transport for London staff strike over planned pension cuts.
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NewsLawsuit against USS to proceed as High Court overturns dismissal
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.