Pension savers exposed to growing governance failings

FairPensions' research found a significant ‘governance gap' between trust-based schemes and contract-based personal and group personal pensions. It said the introduction of auto-enrolment later this year would increase reliance on large insurance companies for pension saving - exposing up to 8 million workers to governance failings. The survey of the ten largest contract-based pension providers found most failed to regularly monitor fund managers on stewardship of the companies in which they invest. It showed only one of the insurance companies polled had signed the voluntary UK St...