Nearly of a quarter of pension schemes required to retender their fiduciary manager had not started the process as of last month, says XPS Pensions Group.
Turbulent markets damaged fiduciary managers’ ability to achieve client-specific objectives, says Isio, with none meeting the target.
With the 9 June deadline approaching for retendering fiduciary management services, Donny Hay says it is important that trustees spend the maximum time to achieve the best outcomes.
The Department for Work and Pensions (DWP) has delayed further a consultation response and final regulations to enact requirements relating to investment consultants.
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
Just over one-third (36%) of schemes retendering for full fiduciary management services are switching providers, latest analysis by Isio reveals.
With under three-quarters of a year left for retendering exercises to be completed, capacity issues could arise and reduce choice, writes James Phillips.