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Published Online:pp 3-26https://doi.org/10.1504/IJBGE.2004.004894

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&#39, role, pension governance, fund manager, pension consultants, trustees&#39, responsibility, pension funds, UK pensions