The Scheme Advisory Board for Scotland's £42bn 11 local authority funds has proposed merging their liabilities, assets and administration into one or more asset vehicles as part of a major structural review.
It is one of four proposals the board is consulting on after finding the Scottish Local Government Pension Fund faces a number of "significant challenges" including deficits, investment costs, and volatile...
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests