UK - Prudential has extended its pensions fund range after developing a multi-manager investment platform.
The insurer has boosted its offering by a further 19 funds, bringing its total range on offer to 44.
These comprise 26 internal funds and 18 external fund options as well as a choice of six fund managers and seven investment styles, the choice of different performance objectives, all major investment classes and access to the Prudential with-profits.
Its five external fund managers are Barclays Global Investors Baillie Gifford, Newton Investment Management, Northern Trust Global Investments, UBS Global Asset Management.
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.