UK - Edinburgh banker Sir Angus Grossart has been re-elected as chairman of the Scottish Investment Trust, despite fierce opposition from Hermes Pensions Management.
Hermes has a 9% shareholding in SIT and opposed Grossart’s re-election, claiming that his 27-year tenure compromises his independence.
Board member Sir George Mathewson said the trust would create a nominations committee to set up the chairman’s successor and would observe the highest standards of corporate governance.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.