The UK's Association of Consulting Actuaries (ACA) has deemed Paul Myners' investment recommendations unsuitable for smaller pension schemes.
In its response to the Treasury, the ACA fears that investment principles outlined by Gartmore chairman in his report could result in “red tape and costs” for smaller schemes.
The association also adds that incorporating brokers commissions may lead to transaction costs being hidden in other ways, including net dealings.
According to the ACA, the inclusion of projected investment returns in each asset class may prove detrimental - that returns may be vastly different from those projected and could mislead scheme members into thinking that the investment strategy is ineffective.
By Madhu Kalia
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.