In an interview with the Financial Times this week, former head of the Financial Reporting Council, Sir Bryan Nicholson warned that inexperienced pension fund trustees may be putting the retirement savings of millions at risk in the UK.
Sir Bryan, who stepped down from the FRC at the end of last year, told the FT that:
"Although the situation is much improved, there is still [concern] in my mind that many trustees of pension funds don't really know what they're doing."
He continued:
"It's not a criticism of the individuals. It's just that they are lay people spending limited amounts of time...I think that is a risk for all pension funds."
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