Positive on pensions

Pension schemes got the thumbs up from the TUC and CBI last month, but for different reasons: the TUC cheered on the growing involvement of member-nominated trustees in running occupational pensions, while the CBI was promoting defined contribution (DC) schemes.

TUC research revealed that 86% of pension scheme boards now have one-third of their trustees nominated by members and many are moving towards 50% representation.

Meanwhile, the CBI said that many staff are put off saving for retirement by the poor perception of DC schemes (in which money saved is used to purchase a pension on retirement). It says that most of these schemes offer higher pension contributions than the government-proposed personal accounts scheme.

The member voice in pensions governance, TUC; Saving for Tomorrow, CBI and Mercer.