Submitted by Leo Kolivakis, publisher of Pension Pulse.
Hundreds of pension experts are to meet in Edinburgh next month to discuss the challenges facing the pension market. And there are plenty of challenges. The UKPA reports that there is a call for pension funds bonus action:
Pension funds must play a greater role in demanding a crackdown on excessive City bonuses to protect pensioner cash, Lord Myners has said.
The City minister told the National Association of Pension Funds (NAPF) that fund trustees and institutional investors had a "legal duty" to pensioners to ask for better standards from the financial services industry and insist on more modest pay deals.
Lord Myners said there had been "significant shortcomings" and failures to take boards to task that had cost savers dearly.
The biggest failure of all was in letting bonuses reach sky-high levels, but soaring levels of financial services fees also needed to be addressed.
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http://www.zerohedge.com/article/are-pensions-tightening-screws