UK - The Financial Services Authority has produced a consultation paper on how to improve the corporate governance of life insurance firms and with-profits funds.
FSA managing director for insurance John Tiner said: “This package of measures will shine a searchlight into life insurers’ boardrooms and show how discretion is exercised in with-profits funds.
“They will ensure that boards and senior management are accountable not only for the decisions they take but also for ensuring that they obtain actuarial advice where appropriate.”
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.