Russell Investments has rolled out a new online benchmarking tool that will enable trustees of U.K. defined benefit pension schemes to compare their governance standards with contemporaries, Financial Times reports. The tool will be offered for free to pension fund trustees. It will classify pension funds as “lean”, “hands-on”, “super-resourced” or “delegated” and summarize some of the common issues that affect schemes with a similar structure, highlighting areas trustees may want to explore further. Poor governance can cost pension funds up to 3% per year, according to Russell’s estimates.
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