All schemes should appoint pension managers - Gosh

All pension schemes should appoint a pensions manager to oversee their investment responsibilities, a leading chief investment officer (CIO) has suggested.

Speaking at the Pensions Management Institute’s Trustee Workbench yesterday, 6 June, Centrica CIO, Chetan Gosh, said that the pensions manager would “justify their salary forever”.

The regulator is set to consult on what it can do to improve the quality of trustees, including making it mandatory to appoint a professional trustee to every scheme, however Gosh believes a pensions manager should also be mandatory.

“I would like to see every pension scheme in the land, if they can afford to pay a pensions manager, pay somebody to come in and do a dedicated investment job. That person would walk in, and overnight, look at the fees being paid and cut them and justify their salary forever,” he said.

“I remember making this statement to one of our trustees and they just didn’t want to know, because they were worried about what their sponsors might think. You are not getting rid of the consultant; you are having somebody that can actually keep the consultant honest.”

The panel discussion, which also included Royal Mail CIO, Ian McKnight, also discussed that role of consultants and how it is important to keep challenging your investment advisers.

    Share Story:

Recent Stories


Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.