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Top trustees voice concerns over funding deficits and employer covenant

Trustees’ top concerns are funding deficits and employer covenant, according to a new study.

The research, published by MetLife in the ‘UK Pension Risk Behaviour Index’, shows ‘funding deficits’ and ‘employer covenant’ overtaking issues such as ‘investment management style’ and ‘asset diversification’ in the concern stakes. (more…)

Category : Employer Covenant — Tags: , , — admin @ 5:01 pm July 5, 2011

Mounting pressure for Trustees

Mounting pressure is being put on trustees to micro manage fund managers and formally define the responsibilities they have to the scheme.

There are two issues that surround this. The first being that trustees have never had this as one of their fiduciary duties. The second is that fund managers are unlikely to want to have their role defined by a trustee, let alone be answerable to one. (more…)

Category : Employer Covenant — Tags: , , — admin @ 12:24 pm April 28, 2011

Employer Covenants monitoring levels worse than thought

It seems that the number of trustees monitoring employer covenants on a formal and regular basis, is a lot lower than originally thought.

Worrying figures from a recent survey of 800 trustees and 119 schemes, discovered that 37% of those who responded, carry out covenant reviews less than once a year. This is despite the Pensions Regulator’s guidance in 2010 clearly stating that regular monitoring should be scheduled. (more…)

Category : Employer Covenant — Tags: , — admin @ 10:43 am March 30, 2011

Pension schemes, trustees and employer related investments – rule change

As of 23 September 2010, new rules have been applied to bring the UK into line with the EU on employer related investments, or ‘ERI’. The aim is to ensure that pension scheme assets are kept separate from those belonging to the employer – and ultimately the employer’s creditors. (more…)