Almost half of all pension schemes will spend more time scrutinising the actions of their fund managers on engagement issues as a result of the economic crisis, it has been reported.
The National Association of Pension Funds (NAPF) 2009 engagement survey indicated that 78 per cent of funds will give more time to reviewing reporting, while 57 per cent will more closely consider votes cast.
NAPF head of corporate governance, David Paterson said such issues are in the spotlight more than ever before.
He added: "Our survey demonstrates that pension funds are increasing their focus on engagement policies.
"They have an inherent interest in the companies in which they invest being run well given their long-term objective of being able to meet the pension promises of their members."
However, Mr Paterson noted that there is "more work to be done" to ensure pension funds improve the effectiveness of their oversight, both in terms of investment managers and the companies in which they invest.
Malcolm McLean, from the Pensions Advisory Service, told the BBC this week that people of all ages should have some kind of pension saving or investment plan.
Sources:
National Association of Pension FundsWesleyan for Lawyers provides specialist retirement planning tailored to the needs of legal professionals.
