The £292m London Borough of Harrow Pension Fund has cut £100,000 off the fees it pays to investment managers.
Following a recent best value exercise, the fund decided to slash the fees it pays to Merrill Lynch Investment Managers and Phillips & Drew. Senior finance assistant Heather Herting said the fund decided to negotiate a different rate after realising that its current fees were too high.
London Borough of Harrow Pension Fund is advised by consultants Hymans Robertson.
By Janet Du Chenne
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.