Trustworthiness, Transparency, Truthfulness, and Stewardship – How is the Pension Fund Industry Faring?
The duty to manage third party money requires a remarkably high degree of care, caution, and diligence. Pension fund service providers are expected to secure members’ retirement savings under their custody with utmost regard.
Service providers need to clearly demonstrate that they are putting members’ interests ahead of their own, least so, those of their shareholders. Needless to say, service providers are bound, both legally and ethically, to act in their clients’ best interests. In taking custody of members’ contributions, over and above the legal contractual agreements, there is a social contract in which the service providers are held to higher standards of care and regard of the security of members’ interests than that they would ordinarily exercise over their own money. For the full article, click the link below…Trustworthiness_Transparency_Truthfulness and Stewardship – How is the Pension Fund Industry Faring