Mandatory tenders for fiduciary management services should be conducted on a closed basis with no minimum threshold for the number of managers involved, the Pensions and Lifetime Savings Association (PLSA) says.
The trade body said these tenders should be aided by the introduction of a regulator-created ‘checklist' for trustees, who should then produce "light-touch, formal documentation" on the process and decision...
Some 96% of trustees are ready for upcoming ESG regulations which will require schemes to agree their approach to responsible investment, according to Hymans Robertson.
Schemes already face a legislative requirement to carry out transfers promptly and efficiently, so they should voluntarily get on board with the industry-developed solution, says Tom McPhail
Professional Pensions' expert Brexit Advisory Panel discusses the key considerations for schemes ahead of the UK's potential exit from the European Union
Professional trustees can improve scheme governance, clear up misunderstandings, and ensure regulatory compliance, argues David Fairs
The director of a professional trustee firm is being prosecuted by The Pensions Regulator (TPR) for failing to provide information and documents requested as part of an ongoing investigation.