BlackRock has won its first full fiduciary mandate in the UK, having been appointed to run the £410m PA Consulting Group Pension Scheme.
The firm now has 10 fiduciary clients, representing US$27bn (£16.8bn) of assets, including the recent mandate from multi-national corporation Henkel, but the PA pension fund is the first UK scheme to take...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.