Pensioners at risk over governance vacuum

A discussion paper entitled: Pension Scheme Governance – fit for the 21st century? argues the suitability of current pension governance arrangements for future retirees, as a result of a recent shift from trust-based defined benefit pension provisions to contract-based defined contribution schemes. The pensions body also proposes a new voluntary ‘Code of Pensions Scheme Governance,’ scheme to ease the regulatory burden faced by pension trustees. Joanne Segars, director of policy at the NAPF, says assets exceeding £700m, affecting as many as 20 million Britons, means good governance am...