US - Active management of retirement schemes had become a key trend for 2008, according to a survey published by Hewitt.
Alison Borland, defined contribution consulting practice leader, Hewitt, said: "Employers [are] under more pressure than ever to effectively manage two sides of the retirement equation - minimising risks and unnecessary costs, while optimising the benefit that employees will get from their retirement programs."
Hewitt found that of the 190 mid-to-large sized businesses surveyed, a third (30%) said they were likely to conduct an asset liability study for their schemes and a similar number (29%) were "very likely" to review the risks in their current strategies.
Over half (55%) of all companies with defined benefit (DB) plans said they intended to review expenses and revenue sharing arrangements of their fund operations and over a third (35%) of employers with 401(k) plans said they were going to review plan governance structures or appoint third party monitors to review investment options.
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.
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