UK - The Pensions Management Institute claims the government should be applauding trustees for the way they have addressed issues raised by the Myners Report.
And PMI president Roger Cobley defended the fact that, at a difficult time for schemes, activism was not judged to be the primary concern.
Cobley said: “The fact that there has been little activity by many schemes in some of the areas that Paul Myners included in the principles, particularly activism, indicates that these areas are not viewed by trustees or their advisers as readily adding value to the overall process of improving the investment decision-making process.”
The PMI argued that the research had taken place while equity markets and long-term interest rates had fallen dramatically, and the ability of employers to reduce scheme deficits was also in question.
The institute claimed that many trustee boards were showing “healthy doses of pragmatism”. It welcomed their willingness to evaluate long-term investment strategy in light of business and investment risks, and assess the potential effect on funding levels rather than in asset-only space, as had been done in the past.
The PMI argued the research had been carried out up to a year ago and best practice would continue to evolve without the need for legislation.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers