Pension funds get new regulatory initiatives

The National Association of Pension Funds has introduced two initiatives aimed at supporting the ownership of pension funds in the UK.

It has published new guidance - titled Pension Funds and the ISC Code - A practical guide - that outlines the principals of the code to pension funds, as well as encouraging them to improve corporate governance by implementing engagement monitoring in their find manager reviews.

The move, which may be of interest to those in the private banking sector, has been coupled with the launch of the Corporate Governance Pensions Connection, which provides fund and investment managers with expert advice on governance issues.

Head of corporate governance at the association David Paterson said that it encourages funds to monitor the companies they choose to invest in.

’These two practical initiatives … help to protect and enhance the value of the investments that funds oversee on behalf of their members,’ he added.

The pensions regulator warned earlier this month that trustees of workplace pensions need to improve the quality of the records they keep.ADNFCR-2318-ID-19605082-ADNFCR