UK - Schemes are currently conducting wholesale reviews of their operations to bring themselves into line with pending government reform, pension managers claim.
British Airways pensions manager John Birch explained that many schemes were having to review their operations, including all of their external advisers, to bring them into line with the Myners principles on investment and best practice.
The move is being driven by government threats to legislate on the matter.
Birch’s comments come as BA finishes its own reshuffle.
He said: “The BA trustees have been undertaking a thorough review of how they carry out all aspects of their business and, as part of this process, they have set in place a review programme for all of their advisers.
“I think many schemes are going through a similar process as a consequence of the work we have all needed to do following Myners.”
And Electricity Supply Pension Scheme chief executive Richard Barlow said its fund had changed the trust deeds to bring it into line with Myners’ recommendations.
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