UK - PIRC research director Stuart Bell has resigned from the corporate governance adviser after 14 years.
Bell said he was leaving the firm to “pursue writing on corporate accountability issues and other academic interests”.
However, it appears the high-profile post will remain vacant for the near future as PIRC corporate governance policy manager David Somerlinck said there were “no immediate” plans to find a replacement.
The move follows revelations that the Local Authority Pension Fund Forum had dropped PIRC as its manager and administrator and brought all operations in-house.
PIRC continues to provide research work on behalf of the LAPFF on a contractual basis.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.