UK - The £2.2bn Tyne & Wear Pension Fund has joined the Local Authority Pension Fund Forum, taking its total membership to 31 schemes.
Tyne & Wear is the seventh fund to join the LAPFF since the beginning of 2003, following in the footsteps of the London Pension Fund Authority, the London Boroughs of Bexley and Brent, and three Welsh schemes, run by the authorities in Swansea, Torfaen and Flint-shire.
LAPFF Forum Officer Keith Bray said: “As funds ponder the implications of Myners’ recommendations on activism, they are increasingly reviewing their policies on corporate governance and SRI. The LAPFF provides the perfect customised vehicle to assist local government pension schemes in the development of policies in these areas.”
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.