All Governance articles – Page 16
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Features
Professional trustees: ‘quis custodiet ipsos custodes?’
Analysis: With consolidation now the name of the game in the small world of pensions, trustee conflicts of interest could harm millions of pension scheme members’ prospects, as schemes eye superfunds and master trusts with vast sums at stake in fees.
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News
Data error leads Cornwall Council to overcharge hundreds of employees
Hundreds of workers enrolled in the Cornwall Pension Fund could be due a rebate after an administration error saw Cornwall Council overcharge them for their pension contributions.
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News
Proposed RI bill would force trustees to consider members’ ‘best interests’
The leader of the Liberal Democrats supports a proposed responsible investment bill broadening the concept of fiduciary duty to encompass sustainability concerns and aim for a ‘world worth retiring into’.
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OpinionSole trustee code of practice will improve schemes’ risk management
The recent release of the sole trustee code of practice by the Association of Professional Pension Trustees will ensure a continued drive for improved governance and standards for pension schemes.
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News
New trustee firm aims to inject dynamism into pensions
Sarah Leslie has reached the end of her patience with the often “pedestrian” pace of things in the pensions industry.
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News
SNP MPs table amendments to tackle Section 75 conundrum
On the go: Four Scottish National party MPs have tabled an amendment to the pension schemes bill in a bid to solve the problem of Section 75 debt falling due on small, unincorporated employers.
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News
Greenwashing poses obstacle for would-be sustainable investors
On the go: Sixty per cent of investors say greenwashing is an obstacle to their sustainable investment intentions, while active engagement is one of the key ways asset managers drive sustainable change, according to a report by Schroders.
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News
Calls for retirement estimates to be dropped from first dashboards
Pension schemes and administrators have requested that the first version of the pensions dashboards run without the inclusion of estimated retirement income data, due to the lack of data and standards for these calculations.
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News
APPT launches new code of practice for sole trustees
On the go: The Association of Professional Pension Trustees has set out a code of practice for trustees carrying out sole trustee appointments.
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News
PLSA throws weight behind ESG and DC retirement initiatives
The Pensions and Lifetime Savings Association has made a string of recommendations to the government on environmental, social and governance investment issues, alongside a call to point retiring defined contribution members towards “preferred” products.
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News
South Yorkshire pensions to go green by 2030
On the go: The South Yorkshire Pensions Authority, responsible for administering the county’s £9bn local authority pension scheme for its 160,000 members, has adopted a net-zero by 2030 policy to govern its portfolio.
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News
LGPS wades into Israel-Palestine row with UN blacklist engagements
At least two Local Government Pension Scheme funds are undertaking engagements with companies linked to contested Israeli settlements, Pensions Expert can reveal.
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PodcastsPodcast: Arguments for DC consolidation stronger than for DB
Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.
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News
Fund managers’ ESG claims outperform reality
A third of asset managers are still not engaging on climate change, according to analysis by Redington. But of those that do, experts warn that their environmental, social and governance ratings may not be all that they appear.
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News
Mercer launches DB master trust as demand for consolidation increases
Mercer has launched a new defined benefit master trust promising sponsors enhanced governance and economies of scale, amid an accelerating trend towards consolidation and outsourced solutions, with pensions minister Guy Opperman stating that “bigger is better”.
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News
Scottish Widows snares top hire from Legal & General
Veteran professional David Butcher has just taken on a new dual role as a member of the master trust board and independent governance committee at Scottish Widows, moving from Legal & General’s master trust board.
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News
Covid and regulatory burdens push building society to outsource scheme
With the work of lay trustees becoming more complex, and the pandemic highlighting other areas in need of sponsors’ attention, the Furness Building Society has opted to outsource services for its defined benefit scheme, a trend that is expected to accelerate.
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News
Smaller schemes to prove value for members or face consolidation
Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.
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NewsPlumbing scheme announces independent governance review
The Plumbing & Mechanical Services (UK) Industry Pension Scheme is to carry out an independent review of its governance structures, after sustained criticism from the scheme's small employers and a court case over its handling of orphan liabilities.
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OpinionApplying the lessons of coronavirus to climate change
Covid-19 has been a proverbial black swan. In the blink of an eye, the world around us has been fundamentally changed, with a distressing death toll, restricted freedom of movement, and the overnight closure of economies.