UK - Pensions Minister, Malcolm Wicks, today said that he has asked the Pensions Management Institute (PMI) to coordinate the setting up of a new trustees' panel that would give a "voice" to all trustees.
PMI will work along the TUC, the NAPF and the Occupational Pension Defence Union in setting up the panel.
The panel will advise the government on a number of issues that currently affect trustees including their views on investment decisions in a post-Myners world and the difficulties they face in managing conflicts of interest within the trustee body.
Speaking at the PMI Spring conference, Wicks told delegates, “The strength of this panel will lie in the fact that it will be completely independent of government, but will have access to me on a regular basis and as such give a voice to trustees of all sorts at the highest level.”
He added: “The government is keen to take into account trustees’ thinking on occupational pension issues, as well as giving them the support and acknowledgement that is their due.” Welcoming the approach to coordinate this panel, Roger Cobley, president of the PMI said, “We want to work with the government to implement all the changes as recommended in the Pensions Act. We want to restore public confidence in pensions and ensure that pensioners are able to enjoy financial security in retirement.”
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