So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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Financial Conduct Authority (FCA) – The UK regulator has hired
Sacha Sadan, most recently director of stewardship at
Legal & General Investment Management, as director of environmental, social and governance, a new role.
The FCA said he would develop and advocate for the FCA’s approach to sustainable finance both in the UK and internationally. He will also lead the development of policy to help ensure the long-term safety and soundness of firms, the proper functioning of markets, and consumer protection.
“The FCA is rightly seen as an international leader on the role financial regulation should play in delivering a more sustainable and greener future,” said Nikhil Rathi, chief executive officer of the FCA. “We welcome the recent addition to our remit of a requirement to have regard to the UK target of net zero carbon emissions. I am delighted to have someone of Sacha’s experience and insight joining us to help us accelerate this important work.”