Small schemes to suffer

By Ruth Alexander Small pension schemes are likely to be disadvantaged under Paul Myners' proposals for instituting a statement of investment principles for occupational pension schemes, according to Simon Martin, principal and actuary at Aon Consulting. In Myners' review letter to the Government last week, he said defined benefit pension funds should be required each year to issue a transparency statement about their investment strategy. This would then be subject to external scrutiny by the members, the public and Opra. Trustees of smaller funds, which Myners defines as schemes of 4,00...