AUSTRALIA - Industry superannuation scheme members have benefited from more than twice the man hours spent by directors running their fund than retail scheme participants.
This could be explained by retail fund executives holding an average of seven simultaneous directorships, compared to industry chiefs holding 2.4.
APRA found only 20% of retail directors had a personal stake in the fund they presided over, compared to between 59-75% of those supervising corporate, public and industry funds.
Public and industry funds also were found to have older directors with more experience in the field than those looking after corporate or retail funds.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.