Updating the myners principles updating a built in dresser
A suggestion was also made about the timing of investments. 7000, the Fund’s past deficit contribution should be lower and where the FTSE100 dropped to a lower level (e.g.5000) it was suggested that this would be a better time to invest i.e.The Government says it will launch a consultation on updating the Myners principles in response to the National Association of Pension Fund’s recommendations.HM Treasury, the Department for Work and Pensions and The Pensions Regulator have launched the consultation to update the voluntary set of ‘comply or explain’ principles designed to improve trustee investment decision-making and governance of pension funds.A possible future issue for the Sub-Committee is that the outlook for Europe/UK is not positive compared with previous years which could have an impact on the performance of the Fund.The Director also referred to Principle 1 in the SIP ( review) and suggested that Members, as Trustees of the Fund, should have access to independent advice.
However, we do not count the requirement to have a SIP as one of these.Last year, the NAPF said the Myners principles should be updated to ensure the continued spread of best practice among pension schemes.The consultation proposes a set of simplified, higher-level principles and the development of authoritative best practice guidance and tools, which will help trustees to improve investment decision-making and governance.We believe that trustees should view SIPs positively.No matter what investment strategy you follow, there will always be uncertainty and therefore the risk (however small) of a problem occurring with your scheme’s investments.
An independent adviser to the Sub Committee would not be linked to a Fund Manager and the Director proposed that an adviser be trialled for a year with an option of terminating the appointment early if it wasn’t working.