UK - National Association of Pension Funds (NAPF) investment council chairman Alan Rubenstein is standing down and his replacement is expected to be announced at the Association's annual conference in May.
The news has coincided with the results of elections to choose new members of the council. Rubenstein said: “I would like to pass on my congratulations to those new and re-elected representatives on the council. The role of an NAPF council member is a challenging but rewarding experience and I hope that those taking up their new roles will enjoy their positions as much as I have.”
Universities Superannuation Scheme chief executive David Chynoweth, Consignia Pension Plan director Gerry Degaute and Greater Manchester Pension Fund head of pensions Peter Morris were successfully voted on to the council.
However, Aegon Asset Management director Mike Craston, HSBC consultant John Finch, Merrill Lynch Investment Managers director Robert Hayes and Jagger & Associates director Simon Jagger all failed in their bid to join the council.
Ken Ayers and Derek Scott have been successful in being re-elected on to the NAPF Investment Council. Frank Russell consultant Ayers and Scott, who is chairman of trustees for Stagecoach, had stood for re-election after serving on the council for the previous four years.
The elections took place after Rubenstein - who is head of European pensions at Morgan Stanley - and Coal Pension Trustees Services chief executive David Morgan decided to not stand again after coming to the end of the four-year period of office. Ayers and Scott had also come to the end of their tenure.
By Paul Sanderson
A former energy and climate change secretary has said that by continuing to invest in fossil fuel firms, pension schemes are just making the climate change crisis even worse.
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
The Salvus Master Trust has launched a mobile app for members after employers revealed they wanted their members to have more access to online tools.
A rise in UK inflation back above the Bank of England's 2% target rate will not change the thinking of its Monetary Policy Committee with regards to interest rates, experts have said.