UK - The Pension Protection Fund (PPF) has confirmed Martin Clarke's appointment as permanent director of financial risk.
Clarke joined the PPF in an interim capacity last year after almost 30 years at Co-operative Insurance Services.
PPF chief executive, Partha Dasgupta, said: “His appointment comes at a crucial time for the organisation as we implement risk and investment strategies aimed at balancing security for scheme members while seeking in the long term to add value for levy payers by out-performing liabilities.”
Clarke said the PPF faced a challenging time: “It is vital that we get our risk and investment strategies right as they will play an increasingly important role in meeting our main objective of paying the right people the right amount at the right time.”
Clarke's comments have followed criticism of the PPF's levy scaling factor for potentially costing companies five times more than last year.
The reason behind more than doubling the levy to £675m since last year was more extensive information collection and to make up for the shortfall it experienced in 2006, according to the PPF.
Last month, the PPF issued a contract for a consultancy to provide an SRI overlay management and corporate government proxy voting.
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.