News
Is professional advice a magic picture show?
Written by Stephen Fallowell – Committee member – featured in Pensionsage In Neil Oliver’s recent television series ‘A history of Ancient Britain’ one of the episodes concentrated on the advent of ‘Bronze’ into the existing British cultures that were still reliant on Stone and Flint. The extraction and production of Bronze, from Copper and Tin Ore, by a limited number
Goodwill Hunting
‘The need for Trust amongst Pension Boards and their Sponsors is vital to ensure good outcomes for Fund members- Stephen Fallowell MNT committee member explores the concept of Goodwillamongst scheme stakeholders’ Good Will Hunting is a 1997 American drama film, the film follows 20-year-old South Boston labourer (Matt Damon) an unrecognized mathematical genius who only through the intervention of a therapist
New annual survey to reveal pension trustees’ biggest challenges
mallowstreet, together with the Pensions and Lifetime Savings Association, the Pensions Management Institute and the Association for Member Nominated Trustees, is launching an annual survey to take the pulse of the nation’s pension trustees. The trustee landscape is changing; from freedom and choice to climate change and technology, there is a growing range of things trustees need to keep on top of. This complexity is
Is financial wellbeing coming on trustees’ radar?
Written by Sandra Wolf – Mallowstreet Financial wellbeing is considered a key factor to improving employee productivity, but trustees have traditionally kept at arm’s length from employer interventions. Should this be changing and what might work? Money worries keep many people up at night and cause them stress during the day. For nearly a quarter of UK adults an unexpected bill
Lay trustees still have a role to play in scheme governance
Written by Johnathan Stapleton – Editor, Professional Pensions The Pensions Regulator’s consultation on scheme governance ups the watchdog’s long-running campaign to improve the standards of trusteeship. But, this time, it seems to be taking an incredibly tough line, particularly on small schemes. As TPR executive director David Fairs explains on page 20: “Many smaller schemes are simply not good enough…
MNTs of ‘highest importance’ to pension boards – Dromey
Written by Theo Andrew – Pensions Age Labour Shadow Pension Minister, Jack Dromey, has said having a member-nominated trustee (MNT) on all pension boards is “of the highest importance”. Speaking at the Association of Member Nominated Trustees (AMNT) Summer Conference last week (5 July), Dromey said that a Labour government would push for stronger member representation, in a time of
Shadow Pensions Minister, Jack Dromey supports the role of member representatives on pension schemes as TPR pushes for professionalising the trustee role
Labour MP champions the role of member representatives on pension boards as the regulator increases efforts to get more professional trustees on boards Dromey reaffirms last year’s statement that Labour wants to move from at least a third member-nominated trustees on pension fund boards to a 50/50 split Labour MP wants to see the establishment of a “fiduciary college” within
PASA launches DB transfer guidance
Written by Holly Roach- Professional Pensions The Pensions Administration Standards Association (PASA) has launched guidance on defined benefit (DB) transfers to help give members better flexibility while retaining their pension benefits. The first of two parts, the Guide to Good Practice has three key aims: to improve overall member experience; to improve efficiency for administrators; and to improve communications and transparency. Speaking
The biggest hurdle yet? Why we need more young trustees
Being a rarity on pension fund boards, it would be easy for young trustees to feel they have to work harder to make their views heard. But the real challenge is getting there in the first place. For young people, getting on a trustee board is a journey so unlikely that whenever a young-ish face does show up, that person instantly
What do you value?
‘Price is what you pay; value is what you get’ – Warren Buffett In 2107 Lionel Messi, world footballer of the year, had a salary of $53 million; with experience an NHS nurse team leader could earn annually a maximum of £34,876. Should the excitement of the game at the Nou Camp Barcelona bring on a heart attack, who would