The TUC, MPs and leading figures from the pensions and investment industry are today (Monday) urging the Government, institutional investors and fund managers to back a series of proposals on responsible investment to help address the practices that contributed to the current financial crisis.
The TUC has today (Monday) urged Pensions Minister Mike O'Brien to resist pensions industry lobbying to water down the test that will be used to decide whether an employer's pension scheme is good enough to qualify as an alternative to the new Personal Accounts scheme, due to start in 2012.
A hard core of investment fund managers still refuse to reveal how they voted at company AGMs and unless this changes soon, the Government must use its reserve power to force fund managers to disclose their voting records in a standard form, says a new TUC report out today (Friday).
The Government's proposal for a new Investment Governance Group (IGG) to oversee the Myners Principles can improve the governance of pension schemes, but runs the risk of becoming an industry talking shop unless it fully represents stakeholders and includes practising member nominated trustees, says the TUC today (Monday).
A full review of pensions buyouts models – where a finance company takes over a pension scheme from a sponsoring employer – is needed to anticipate any future threats to members' interests, says the TUC today (Friday).