– The Organisation for Economic Co-operation and Development’s inaugural Pensions Outlook report suggested the UK’s minimum contributions for auto-enrolment are too low, preferring Australia’s 12% model. Its analysis found a broadly inverse relationship between public pension benefits and DC contribution rates.
– The National Employment Savings Trust has responded to the European Commission’s consultation on gender imbalance in corporate boardrooms saying it prefers a “flexible system of corporate governance that puts the onus on company boards to explain how they are increasing gender diversity at the most senior levels”. The UK Government meanwhile reconfirmed its opposition to mandatory gender quotas saying that placing the onus on businesses has brought about an “unprecedented increase” in female board representation.
– PIRC research showed the average vote against a UK PLC’s remuneration report has risen by 50% since last year. However, Vince Cable is supposedly considering a triennial rather than annual binding vote for shareholders to tackle executive pay. The move has led some observers to ask what happens if the company wants to make significant changes to policy in the interim, however.
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