Five stories you might have missed this week
This week's top stories include the regulator issuing its first fines to master trusts over chair statements, and the CovPress scheme's rescue from the PPF in first-of-its-kind action.
1) TPR fines first master trusts for chair's statement failures
The Pensions Regulator has reaffirmed its determination to ensure trustees demonstrate good governance by fining four master trust schemes for not completing a chair's statement.
2) Pension funds join forces in major climate change initiative
Some of the UK's biggest pension schemes have co-founded an initiative to better understand how the transition to a low carbon economy affects their investments.
3) CovPress rescued from PPF in unique corporate deal
The CovPress pension scheme has come out of the Pension Protection Fund after the automotive supplier was acquired by Liberty House in the first rescue of its kind.
4) Government to implement FCA's cost transparency proposals
Pensions minister Richard Harrington has said the government will work with the Financial Conduct Authority to improve transparency of pension costs.
5) ITS hires director from Mercer's retirement business
Rachel Croft has been made a director by Independent Trustees Services to lead trustee appointments on behalf of the firm.
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