UK - Members of the National Association of Pension Funds (NAPF) have endorsed restructuring proposals within the organisation at an EGM (Extraordinary General Meeting).
The NAPF had called for better clarity in its decision-making and wished to reduce the number of committees in its structure.
The changes will see the replacement of the existing NAPF council and committees with a holding company board, benefits and investment councils and an operating company board.
The proposals emerged from an internal working party recommendation, which had considered all organisational aspects of the association.
“We will now be seeking nominations for those wishing to serve on the benefits and investment councils that will take office in May 2001. I hope that we will have some hotly contested elections since our councils will provide an opportunity for quality people to make a quality input,” says Alan Pickering, chairman of the NAPF.