UK - HiTek Power has appointed Multi-Manager Investment Solutions to run the assets for its closed defined benefit pension scheme.
Utility firm HiTek closed its £6m final salary to new entrants in 2002.
HiTek Power human resources manager Denise Potter said: “The advantage of the multi-manager approach is that it delegates the day-to-day manager selection and performance monitoring to Investment Solutions.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers