UK - The Institute of Actuaries has reported that a charge of misconduct by Mr RG Brown has been referred to a disciplinary panel by the investigating committee.
It is alleged that Brown fell short of the institute’s standards when, as an actuary of a pension scheme, he failed to give a written report to OPRA immediately when he had reason to believe the trustees had failed to appoint an auditor.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.