All articles by Benjamin Mercer – Page 18
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NewsOpperman lauds ‘transformational’ climate requirements
Pensions minister Guy Opperman has lauded the government’s “utterly transformational” approach to climate reporting requirements, while promising legislation on “simpler statements” and the “statements season” in the near future.
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NewsPPF 7800 surplus jumps £25bn in September
On the go: The latest update of the PPF 7800 Index shows the aggregate surplus of the 5,318 defined benefit schemes measured jumped by more than £25bn to £108.8bn at the end of September, up from £83.2bn at the end of August.
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News‘Greenium’ concerns remain around second green gilts issuance
On the go: The second issuance of the government’s green gilts is expected on October 18. While the first issuance was significantly oversubscribed, concerns about the “greenium” have deterred some pension schemes from investing.
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NewsCalls for an inquiry over teachers’ 7-year contributions gap
Councillors have called for an independent inquiry to determine how 14 members of the Teachers’ Pension Agency found they were missing seven years’ pension contributions from their employer.
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NewsPublic sector schemes told to conclude 2016 valuations
The Government Actuary’s Department has agreed with HM Treasury that its amendments to the cost-control framework used in public sector schemes meet the government’s policy objectives, drawing a line under the troubled 2016 valuation process and allowing public sector schemes to complete these.
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NewsPodcast: Mandating net zero could ‘cut straight through’ fiduciary duties
Podcast: The government mandating default funds be aligned with ‘net zero’ would be a way around concerns about fiduciary responsibility, but there are questions about what this would mean in practice. Stuart O’Brien, partner at Sackers, and Gareth Stears, pensions technical consultant at Aries Insight, discuss environmental, social and governance issues, social housing, and the Pensions Regulator’s controversial criminal powers.
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NewsUSS sponsor claims members will be ‘priced out’ without reform
On the go: Universities UK, the group representing 340 Universities Superannuation Scheme employers, has warned that USS members will be priced out of the scheme if the union’s threats of strike action derail reform proposals.
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NewsSTV Group reaches agreement on DB schemes’ valuations and funding
On the go: Glasgow-based media company STV Group has reached an agreement with the trustees of its two defined benefit schemes over its December 2020 funding valuations and recovery plans.
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NewsCMA to investigate Willis Towers Watson deal
On the go: The Competition and Markets Authority has announced an investigation into a planned merger between American insurance brokerage Arthur J Gallagher & Co and Willis Re, Willis Towers Watson’s treaty reinsurance business.
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NewsCD&R called to reassure MPs over Morrisons takeover
On the go: Labour and Liberal Democrats MPs have warned Clayton, Dubilier & Rice that it must make guarantees to workers and rule out asset-stripping as it looks set to complete its £7.1bn Morrisons takeover.
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NewsGovt presses ahead on public sector schemes cost-control reform
The government has announced its intention to push ahead with reform of the cost-control mechanism used in public sector pensions, despite criticism from some in the industry.
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NewsTrustees on the hook as ‘high street’ advice market goes into free fall
Trustees are being saddled with the burden of sourcing financial advice for members as the high street advice market goes into free fall, halving in just three years, LCP has said.
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NewsFTSE 100 DB surplus not immune to funding code and inflation shocks
On the go: FTSE 100 defined benefit schemes' positions grew again in Q3, with the post-pandemic recovery leaving their combined IAS19 surplus at £50bn. But LCP has warned that inflation, coupled with stricter rules under the new defined benefit funding code, could still do damage.
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NewsIsio snaps up Premier Pensions
On the go: Isio has announced the acquisition of Premier Pensions, subject to approval by the Financial Conduct Authority.
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NewsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsRoyal Mail CDC scheme closer to reality as consultation launches
Royal Mail has launched a consultation on its new collective defined contribution scheme, detailing the structure of the new pension fund, which the postal company is aiming to launch in 2022.
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NewsRiver and Mercantile joins green gilts issuance
On the go: River and Mercantile has announced its participation in the government’s inaugural green gilts issuance.
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NewsGuidance ‘stronger nudge’ still poses more questions than answers
Regulators are unclear about how the take-up levels of pensions guidance should look like as a result of the “stronger nudge”, since parts of the proposal have yet to be tested, the Work and Pensions Committee has heard.
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NewsTaskforce lays out measures to boost schemes’ voting powers
The Taskforce on Pension Scheme Voting Implementation has called on the Department for Work and Pensions and the Financial Conduct Authority to create templates and requirements aimed at boosting asset owners’ ability to vote, especially in pooled funds.
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NewsStrike ballot set for October in ongoing USS row
On the go: The University and College Union has announced it will ballot staff over strike action in October following a breakdown in negotiations over the Universities Superannuation Scheme’s controversial 2020 valuation.