UK – The Chartered Institute of Management Accountants has set up a pensions risk advisory group.

CIMA said the group’s remit is to “develop a checklist of issues to be considered in managing the corporate risk of pensions and explore areas for further research”.

Members of the group include the chairmen and trustees of some of the UK’s major pension funds, leading academics and finance directors from FTSE 100 and FTSE 250 firms.
The group is considering how boards can better understand and manage the risks arising from defined benefit pension schemes.

“We are delighted to have such a distinguished and diverse group of finance directors, academics, trustees, actuaries and other experts who are involved in managing the corporate risk of pensions,” said CIMA president Ian Christison.

“This issue is high on many board agendas as it has the potential to dominate the rest of the balance sheet and threaten the ability of a company to implement its chosen strategy.”

The group is supported by the Cass Business School. In its first meeting on May 4, the group discussed the issues that finance directors should be considering with respect to the risks arising from defined benefit pension schemes and specific topics that might merit further research.

The group is chaired by Mike Samuel, chairman/trustee at the Rank Group/Unilever pension funds. Other members include: David Blake (Cass); Harry Byrne (CIMA past president); Andrew Carr-Locke (George Wimpey); John Coghlan (CIMA deputy president); Charles Cowling (Mercer); Rebecca Driver (ABI); Douglas Flint (HSBC); Professor Steven Haberman (Cass); Richard Mallett (CIMA); John Pickles (Cass) and Charles Tilley (CIMA CEO).

Meanwhile, Anthony Carus has been named to the Professional Oversight Board of the Financial Reporting Council.

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