UK - The National Association of Pension Funds (NAPF) has called for "energy and focus" on implementing the proposals issued by the HM Treasury after consultation on its Myners Review.
Joanne Segars, chief executive, NAPF, said: "We broadly welcome the treasury's response to the recommendations we put forward last year following our review.
"The proposals set out a package for continued improvements in trustees' investment decision-making," Segars added.
The NAPF said assisting with the extension of compliance with the revised principles to contract-based DC schemes should be a priority.
Another area of focus, according to NAPF, should be the development of new approaches to help small schemes comply with the revised principles, where appropriate.
Finally, the NAPF called for an agreement on the terms of reference and composition of the Investment Governance Group (IGG) that will co-own the revised principles.
This would enable rapid progress in improved governance on investment matters, it added.
The NAPF welcomed the formation of a joint government-industry IGG, but warned it did "not want it to become a backdoor route for further regulation from The Pensions Regulator".
The IGG should be the main vehicle for the development and promotion of future best practice in UK scheme governance related to investment decision making.
In response to a government's invitation, the NAPF undertook a review of the Myners Principles which it completed in November 2007.
The review included a discussion paper, trustee research and bilateral meetings with institutional stakeholders. HM Treasury responded to the review in March 2008 and this also included a consultation.
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