Mercer Money - Hacked

[BunkMoreland]

More a case of raising it for others. Also to see if others are affected

My UK employer pension is with Mercer Money. Apparently in Denver, CO

Few of us (inc myself) have received emails (from allegedly the correct email) saying "your account is now closed and the money is no longer available to you"

Our HR team have sent out emails to all of us saying this is not correct and they are investigating and not to click any links in emails

Someone at another site to us said they'd had an attempted transfer but the company had blocked it (I guess she DID click the link in the email)


Quick Google suggests this is not the first time Mercer have been hacked. (ShinyHunters have form for this)
https://www.investmentnews.com/regulation-legal-co...


Is it worth trying to get our employer to change to a UK based firm such as Aviva/Pru/ AN Other? And getting the money out? Or should we sit tight?

(Hopefully hypothetically) if Mercer was to lose the money, I'm guessing there's little to fk all redress for us from either Mercer or my employer for any resulting st show?

[DonkeyApple]

If it's the Mercer that I'm thinking of then it's an old brand under Marsh and their administrator was Aviva.

It should all be kosher and covered by FSCS etc.

US entities are probably getting spanked by Iran, Russia, China and every virgin living with mother around the world currently so hacks probably to be expected.

Absolutely no harm at all is asking your employer to explain their partner choice and your security though. Never hesitate to ask and if the response isn't completely clear to you then never hesitate to ask for clarification. It is your money, your future and your right. Just be polite and don't call anyone 'sugar tits' and you'll have no issues.

[Panamax]

DA - I'm pretty sure there's no connection between these people and the Mercer brand used by some parts of the Marsh organisation. As you say, OP can ask for clarification of the whole set-up.

[DonkeyApple]

Panamax said:

DA - I'm pretty sure there's no connection between these people and the Mercer brand used by some parts of the Marsh organisation. As you say, OP can ask for clarification of the whole set-up.

Ah. Thanks. OP certainly needs to drill down on exactly what the business is, what it is doing for him (admin, custody, management etc).

[55palfers]

I get my pension paid by Mercer. Shoul I be concerned?

[Panamax]

Google says,

"No, Mercer Global Advisors (based in Denver, CO) is not owned by Marsh McLennan. It is a private equity-backed wealth management firm, primarily owned by Oak Hill Capital, Genstar Capital, and Altas Partners. It is important to distinguish this RIA (Registered Investment Adviser) from the consulting firm Mercer (or "Mercer LLC"), which is a subsidiary of Marsh McLennan."

Confirms they are nothing to do with Marsh McLennan, the US group which owns Mercer pension administration in UK. Just a coincidence of names. Bear in mind this is only a google answer, although it confirms my own understanding.