Euraplan, the UK pension fund accounting and monitoring service, has launched a new system delivering investment reporting to larger schemes with £750m or more.
The multi-currency OpenAIR Investments - the second module of OpenAIR Accounts - allows pension funds to check the activities of its fund managers and custodians, according to Euraplan.
The service includes multi-scheme reporting, a full audit trail, dividend/tax monitoring, portfolio-specific pricing sources, and an e-interface with fund managers and custodians.
Roger Forder, chief executive of the London-based firm added: “The enormous responsibilities pension schemes bear in terms of funding the retirement of their members ... make it absolutely imperative that a pension fund undertakes its own verification of the performance of fund managers and custodians in every respect.”
By Madhu Kalia
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