MNRPF trustees replaced after ignoring governance recommendations
The Merchant Navy Ratings Pension Fund (MNRPF) has replaced every member of its trustee board following a drawn-out battle with The Pensions Regulator (TPR) to improve governance.
Trustees failed to acknowledge criticisms and make reforms to improve governance, did not properly consider conflicts of interest, and had a lack of trust, openness and mutual respect, a regulatory intervention...
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