UK - Former Railways Pension Trustee company chief executive Peter Murray has joined Epic Investment Consulting as a member of its investment panel.
Murray will focus on helping trustees and sponsoring companies address investment issues in their final salary or money purchase schemes.
Murray – a former chairman of the National Association of Pension Funds and board member of Occupational Pensions Regulatory Authority and chairman of the National Association of Pension Funds – said: “EIC’s panel structure provides a vital mechanism to keep pension fund advisers fully up to speed with developments in the markets and investment industry overall.”
EIC chief executive Christopher Edge said: “I am delighted that one of the most experienced and highly respected pensions experts in the country has decided to join Epic.
“Peter Murray’s background and experience will greatly enhance the services which EIC can provide for pension trustees.”
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.