UK - UK schemes allow for one day of trustee training per year for every £138m of funds they manage, research from Instinet Europe shows.
In its latest report, Taking the temperature of the UK pension fund industry, the fund manager surveyed 107 pension funds and examined the effects of the Myners Report on pension schemes.
Some 81% of respondents reported a change in the information they receive about transactions and associated costs since Myners’ proposals were adopted. And 53% do not believe the increased transparency surrounding transaction costs will have an impact on their costs.
Instinet Europe’s head of UK institutional equities John Siska said: “The Myners Report can only be praised for its efforts to help increase transparency in the pensions industry.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.