UK - Mercer Human Resource Consulting is reorganising its retirement practice in a bid to cut costs and meet changing client demands.
The firm is developing a network of key regional centres outside London and the South East, which will be based in Glasgow, Manchester, Leeds and Birmingham.
The centres will act as the main consulting “hubs” for each region, providing technical and consulting support, training and professional development to satellite offices, which will focus on local clients.
Mercer’s strategy also includes the development of regional “centres of excellence” to handle wind-up arrangements and the processing element of actuarial valuations.
Valuation technical centres are being set up in Belfast and Glasgow, while the main wind-up centres are already operational in Belfast, Leeds and Manchester.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.
An independent expert panel will be commissioned to review how the £6.1bn funding deficit figure for the Universities Superannuation Scheme (USS) was reached, Universities UK (UUK) has announced.
Responses to the Professional Trustee Standards Working Group's consultation have flooded in. While the industry mostly welcome the proposals, there is disagreement on some areas, writes Kim Kaveh.