UK - Scottish Life Administration Services has appointed Kevin Smith as head of operations.
Smith joined Scottish Life in 1980 and has accumulated a wide range of administration experience that spans group, individual and personal pensions.
Prior to this appointment, Smith was customer service manager, responsible for the operational design and roll out of imaging and workflow systems to servicing departments.
In his new role he will report directly to SLAS chief executive Mike Read and will be responsible for the servicing of all DC Solutions clients and the bundled business of fund manager partners Threadneedle, JPMorgan Fleming and UBS Global.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.