NAPF bemoans 'unnecessary' reporting disclosures

The NAPF said the Accounting Standards Board's revamped disclosure requirements would result in significant costs by grouping schemes alongside banks and insurers. The trade body said schemes would be forced to disclose details of the financial instruments they use, such as derivatives and hedge funds, which would result in "major costs" for large pension schemes. NAPF policy director Darren Philp (pictured) said pension funds should not be classified as financial institutions. He said: "Pension funds would face tough disclosure requirements starting from the wrong assumption that ...