Thursday 10 January 2013
IMA STRESSES NEED FOR BETTER PENSION GOVERNANCE
The Investment Management Association (IMA) welcomes The Pensions Regulator’s consultation on the regulation of work-based Defined Contribution (DC) pension schemes, launched today.
Jonathan Lipkin, IMA Director of Public Policy, said:
“Millions of individuals will soon find themselves becoming members of DC schemes because of auto-enrolment, often without significant knowledge of financial markets or the investment process.
“In such an environment, it is essential to ensure high standards of governance, particularly with respect to the design, implementation and ongoing monitoring of default strategies. We, together with other stakeholders, have already helped to develop principles of best practice for investment governance through the Investment Governance Group and we look forward to working with TPR as it develops its approach to DC regulation.”
For further information please contact:
Navdeep Sidhu, Press Officer
020 7831 0898 or 07843 517 618
About the Investment Management Association:
- The IMA is the trade body for asset managers (retail and institutional) who manage £4.2 trillion of assets in the UK as at December 2011.
- Our role is to support and promote a commercially successful and growing UK investment management industry as we seek to improve financial outcomes for customers – savers and investors.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US.
- The IMA has recently launched a consumer website providing comprehensive information on investment funds.