UK - As announced at the Global Pensions Transition Management Forum 2006, the T-Charter has gone out for general and widespread industry consultation, meeting the Christmas deadline set by key industry figures at the event.
The charter is aimed at providing a common set of standards for all transition managers and their clients.
The document was sent out to all transition managers at the end of last week with the document now being forwarded to clients, consultants and other interested parties.
Global Pensions understands that those seeking a copy of the document should contact a transition management provider.
Rick Di Mascio, Inalytics chief executive and T-charter sub-committee chairman, said: “What we have been able to do is create a level playing field for all the providers. We have got it to the stage where it does not favour one house over another. There may be some small issues to overcome and like all things I am sure it will require the odd tweak as time goes on.”
He said the process of putting the charter together had helped to provide transparency in the transition management industry and had been very useful in educating pension funds.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.