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.
A "substantial" parliamentary bill acting as a "roadmap" for the long-term future of private pensions will lead to a "significant period of calm", Guy Opperman has promised.
The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
Pensions and financial inclusion minister Guy Opperman has launched a simplified two-page annual statement in a bid to provide a best practice template for the industry.
Some 70% of defined contribution (DC) members want to know their scheme is personalised and tailored to their needs, an Invesco language study reveals.