Title: Pension funds governance: an overview of the role of trustees

Authors: Nada Kakabadse, Andrew Kakabadse

Addresses: Northampton Business School, University College Northampton, Park Campus, C214, Boughton Green Road Northampton, NN2 7AL, UK. ' Cranfield School of Management, Cranfield University, Cranfield, Bedfordshire, MK43 0AL, UK

Abstract: The Myners Review of the pension fund industry has started a debate on pension fund governance and the fund industry itself. This paper provides a review of pension fund trusteeship in the UK, its role, operating models and impact. It argues that deficiencies in the systems uncovered by the Myners Review stem from a tension between conflicting philosophies – that of trusteeship built on stakeholder principles but operating in shareholder markets.

Keywords: pension fund trustees; trustees| role; pension governance; fund manager; pension consultants; trustees| responsibility; pension funds; UK pensions.

DOI: 10.1504/IJBGE.2004.004894

International Journal of Business Governance and Ethics, 2004 Vol.1 No.1, pp.3 - 26

Published online: 13 Jul 2004 *

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