The Universities Superannuation Scheme has paid £1.8m in bonuses to its investment staff despite its funding level dropping severely, according to its annual accounts.
The trustee company - which runs the scheme - said at March 31 the funding level had fallen to 74% from 103% the previous year (PP, July 28, 2009). The report said the decrease reflected the fund's...
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.