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21-Jul-08 11:15 [Pensions]
TUC: Member involvement in pension boards is promising The Trade Union Congress (TUC) has found that 86 per cent of pension scheme boards have one-third of trustees directly nominated by members, after six months of the implementation of a minimum requirement.
Research by the TUC also led it to comment that "industry scepticism" in the level of member involvement required was misplaced and that it believed the scheme was important for members' voices to be heard by employers.
The congress said that the current economic climate meant members' voices were needed more than ever in making decisions in the governing of pensions.
General secretary of the TUC Brendan Barber added that this news will persuade the government to make the basic requirement higher so that participation continues to grow.
He continued: "In order to continue this progress, the government must implement its manifesto pledge and require all schemes to have 50 per cent member-nominated representation."
At the beginning of the month, Mr Barber also revealed that only seven per cent of the public thought the balance between tax paid by the rich and poor was correct.
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