Standard Life: investment strategy looks elitist

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Standard Life: investment strategy looks elitist

Thu 6th May 2010

Standard Life has described new investment proposals as elitist and suggested that any alterations to the code should take into account smaller schemes, as well as the larger ones.

These comments were made by head of pensions policy at the firm John Lawson, who was responding to a document produced by the Investment Governance Group about investment governance in defined contribution pension schemes.

He stated that the aim of this consultation should be to improve decision-making in all investment companies, not just the larger ones.

Mr Lawson remarked: "Pension schemes come in a wide variety of shapes and sizes, not just trust-based schemes with 3,000 or more members, and the code needs to recognise this reality."

Standard Life claimed that the proposals also underplay the role of the provider and advisor and fail to take into account that some employers see investment decisions as being the responsibility of the employee.

It was recently announced that the organisation will create a savings and retirement programme for Logica employees in the UK.

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