Myners Report - A report produced in March 2001 by Paul Myners recommending a voluntary code of practice for the pension fund industry. The Report focused on pension trustees, and its main recommendation were:trustees should undergo some form of professional training to ensure that they understand the issues on which they have to decide.trustees should set clear objectives for funds, and should choose appropriate performance, risk and time benchmarks for fund managers.trustees should be encouraged to spend more money on advice and delegate more to paid advisors or professional trustees. investment advisors appointed by trustees should be different from their actuarial advisers.rules should be cut to make it easier for pension funds to invest in private equity partnerships and high-risk ventures.The Law Commission should set up a review to decide who owns surpluses in defined benefit pension funds. Surpluses should be taxed if distributed.
Myners Report : a report produced in march 2001 by paul myners recommending a voluntary code of practice for the pension fund industry. the report focused on pension trustees, and its main recommendation were:trustees should undergo some form of professional training to ensure that they understand the issues on which they have to decide.trustees should set clear objectives for funds, and should choose appropriate performance, risk and time benchmarks for fund managers.trustees should be encouraged to spend more money on advice and delegate more to paid advisors or professional trustees. investment advisors appointed by trustees should be different from their actuarial advisers.rules should be cut to make it easier for pension funds to invest in private equity partnerships and high-risk ventures.the law commission should set up a review to decide who owns surpluses in defined benefit pension funds. surpluses should be taxed if distributed.
Myners Report