By Lawrence Gosling Jardine Lloyd Thompson Benefit Solutions (JLTBS) believes Myners' Report may ha...
By Lawrence Gosling
Jardine Lloyd Thompson Benefit Solutions (JLTBS) believes Myners' Report may have extreme implications for the trustees of pensions schemes.
Kevin Coomber, Investment Director for JLTBS, says: "We welcome better recognition of the role played by trustees but feel that the level of suggested knowledge required will overburden trustees. Payment will not be the answer."
He believes the trustee issue needs to be considered carefully to reflect the 'vital' role they perform.Coomber says: "It is crucial that policies designed to improve scheme effectiveness do not overburden or hinder the trustees in the performance of their duties.
".Although the suggestion has been made to pay trustees, we believe that this will not be a great enough incentive for trustees to develop the skills they need to carry out their investment duties. We believe that the level of training will become the key element in this issue and that the appropriate solution will possibly be improved training on investment issues combined with greater involvement of an appropriate investment professional."
JLTBS is part of Jardine Lloyd Thompson employs over 4,000 people in 35 countries and is the UK's largest publicly quoted insurance broking group and 4th largest insurance broker in the world.
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