INCLUDING: UK - Funds not measuring performance; UK - Crum joins Hewitt; UK - ACE launches Elite
Fewer than 2% of UK companies measure returns on pension investment in terms of improved employee and corporate performance and do not understand its impact on shareholder value, according to Alexander Forbes Financial Services. However, Employers did regard pension provision as an important part of their corporate and social responsibility (CSR). In addition, 75% companies saw enabling their staff to retire with financial security as the single most important reason for providing a pension and 64% said it was part of their CSR.
UK - Crum joins Hewitt
Hewitt Associates has appointed David Crum to its public sector investment consulting team from the £9.5bn Strathclyde Pension Fund, where he was chief pension officer for investment. Crum is the latest addition to the Hewitt's UK investment practice following the recent appointments of Caroline Allensby-Green, John Benfield, Tim Currell, Tapan Datta, Yves Josseaume, Robert McElvanney, Zuhair Mohammed and Richard Cooper.
UK - ACE launches Elite
ACE European Group has launched ACE Elite, a portfolio of liability products designed to provide more relevant and appropriate protection in addressing the increased exposure of individuals and their personal assets. Emma Watkins, pension trustee liability (PTL) specialist and product manager at ACE said: "PTL insurance offers wide cover for the individual, sponsoring employer and the pension scheme itself. However, there is a risk that when insurers focus on providing cover for the company this can divert protection away from the individual, therefore exposing trustees to unnecessary risk. ACE Elite PTL adopts a more direct approach and backed up by our robust underwriting and pricing strategy, we aim to redress the balance for trustees."
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.