Trustees of smaller defined benefit schemes are spending too much time debating manager selection and not enough time considering asset allocation, consultants say.
Bluefin director Eamonn O'Connor said trustee boards typically devoted about 90% of the time they spent discussing investment debating fund managers - a decision which only had a 10% effect on asset performance....
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).