UK - The vast majority of pension funds have already implemented, or are taking steps to implement, Paul Myners's principles on institutional investment, the NAPF claims.
A survey of 100 NAPF members found that 76% of respondents were complying with the investment principles while a further 17% said they intend to take action over the coming months.
The survey also found:
- More than three-quarters thought Myners’s recommendations would improve investment decision-making – only one respondent thought they would have an adverse effect.
- 65% of schemes had prepared, or were preparing a statement, on their current position on compliance.
- 81% said they kept their members regularly informed on asset allocation.
NAPF chief executive Christine Farnish said: “While there remain a few areas where further work clearly needs to be done, the progress already made should reassure ministers that the principles are being taken seriously and acted upon.
“I hope the government will take note of these findings when forming its own view as to whether legislation is still required.”
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.