FRC finds support for stewardship code to mirror section 172 duty

The UK’s accounting and audit regulator has highlighted support for new stewardship requirements for investors similar to those currently imposed on company directors. Respondents to a recent Financial Reporting Council (FRC) consultation supported modifying the UK stewardship code to include a duty for investors similar to section 172 of the UK Companies Act. The accounting watchdog is due to present […]

UK pensions sector rallies behind dashboard as government support stalls

The UK government risks exposing millions to fraud and lost pension pots if it abandons its support of a pension dashboard, according to the Association of British Insurers (ABI). The trade body issued the stark warning after a UK newspaper this morning reported that Esther McVey, the UK’s state secretary for work and pensions, was considering abandoning her department’s work on […]

Royal Mail CDC plan ‘could transform UK landscape’

An influential UK parliamentary committee has thrown its weight behind the introduction of collective defined contribution (CDC) pension schemes in the country. In a report published this morning, the Work and Pensions Select Committee praised the agreement struck between (CWU) earlier this year. The two parties agreed a ‘cash balance’ pension scheme to replace the defined benefit (DB) fund, and […]