UK - Schemes have slammed a £1.3m payoff to NTL president and chief executive Barclay Knapp who led the firm to seek Chapter 11 bankruptcy protection.
Knapp’s golden handshake represented three times his annual salary.
The NAPF said the payoff was further evidence that executives’ contracts should be limited to two years or less – one-year rolling contracts are currently standard best practice.
A spokesman said: “This shows the need for setting out contracts properly to avoid any chance of payment for failure.”
Pension funds have until September 30 to respond to the department of trade and industry’s Rewards for Failure consultation paper which questions whether to back the UK’s corporate governance framework with legislation.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.