NAPF cuts Myners Principles for trustees

The 10 voluntary principles were established in 2001, following a review of the pensions industry by Paul Myners, currently chairman of the Personal Accounts Delivery Authority (PADA). However, the NAPF’s current review of the principles recommends bringing them in line with current best practice and replacing them with six high level principles. It recommends the change as it says trusteeship has become more complex since 2001. The recommendations follow a year-long consultation with the pensions industry, trustees and other stakeholders. One of the key recommendations of the revie...