UK institutional pension funds' equity allocation has plummeted by a fifth in the past decade - but remains the highest in the world, according to a global study.
A report by consultant Towers Watson found UK funds' allocation to equities had dropped from 74% in 2000 to 55% last year, but still outstripped the US and Australia who both allocate 49% to equities....
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.