Pensions Watchdog Guides On Investment Governance Rules
Law360, London (November 28, 2019, 4:24 PM GMT) -- Britain's pensions regulator published guidance on Thursday for trustees on how to comply with a shake-up next month of competition rules on offering retirement advice, which will oblige them to ensure they are getting the best deal for their customers.
The rules were introduced by the Competition and Markets Authority in June, and will require trustees — who oversee company pension plans — to hold competitive tenders with at least three investment consultants or fiduciary managers if they want to delegate investment decisions for 20% or more of their plan assets.
Investment consultants and fiduciary managers — advisers who make pension...
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