Daily Insurance Industry News
Daily Insurance Industry News
Saturday 21st of July 2018
April 26, 2010

FSA probes Pension Corporation’s investment strategy

by Gill Montia

Story link: FSA probes Pension Corporation’s investment strategy

The Financial Services Authority (FSA) has required Pension Corporation to explain certain aspects of its investment strategy, The Independent on Sunday has reported.

According to the newspaper, Pension Corporation’s parent company, Pension Insurance Corporation, has recently received a letter from the regulator regarding £3.3 billion worth of assets managed for 45,000 pension holders.

The move is being taken by some as an indication that the FSA is becoming tougher with insurance companies, particular newer businesses operating as consolidators.

Trustees of company pension schemes have become increasingly keen to offload the responsibilities and balance sheet liabilities of company pension schemes and the Government is known to be keen to ensure that schemes are not treated as commodities, to be bought and sold.

In 2007, the Pensions Regulator intervened in the case of the proposed sale of the Telent pension scheme to Pension Corporation, over concerns that the latter could adopt an investment strategy aimed at benefiting its investors and not scheme members.


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