Trustees risk being fleeced by underperforming investment managers after it was revealed management fees jumped 11% last year on the back of improved market conditions, a consultant says.
Consultant LCP said the increase in fees last year - equivalent to £300m - came without any guarantee of improved manager performance, leaving trustees at the mercy of manager pricing. The increase...
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.