Need for more efficiency

By Mohamed Ali Bernat Paul Myners wants to add more professionalism to the role of pension trustees and have independent reports commissioned by scheme members to ensure transparency and efficiency of pension schemes. Following his recommendation to scrap the minimum funding requirement (MFR) last week, Myners said there should be a long-term, scheme-specific approach based on transparency and disclosure, with no centrally dictated set of reference assets distorting investment decisions. This would replace the MFR's prescriptive investment measures which distort investment decision-makin...