Contract-based governance committees will have powers to request action and refer non-compliance to the Financial Conduct Authority (FCA), the Office of Fair Trading (OFT) says.
Introducing independent oversight in contract schemes was one of the OFT's key recommendations in its final report on the workplace defined contribution (DC) market (PP Online, 19 September). OFT chief...
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.