Pension Trustees Urged To Meet Planned Governance Rules

Law360, London (June 9, 2021, 2:22 PM BST) -- Just over half of pension trustees currently carry out an annual review of their work, an insurance broker has found, as it warned that the industry has a long way to go to meet new governance requirements that the sector's watchdog is considering.

Willis Towers Watson said in research published on Tuesday that 54% of trustees measure how well they manage their retirement schemes every year; just 29% of those use an external contractor to do so.

The Pensions Regulator launched a consultation in March on proposals for an updated code of practice, which would require a scheme's trustees to carry...

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