The majority of pension funds in the UK are satisfied with their investment consultants, according to the National Association of Pension Funds' (NAPF) latest Assessing Investment Consultants Performance survey.

The survey, launched at the NAPF Investment Conference 2009 in Edinburgh, has found that 83 per cent of defined benefit (DB) schemes and 80 per cent of defined contribution (DC) schemes would recommend their investment consultancy to one of their peers with similar requirements. The survey also found that depending upon the type of service, between 44 per cent and 89 per cent of pension funds rated the service they received from their consultancies as good or very good.

"Despite the worsening economic conditions, our survey finds that schemes remain very satisfied with their investment consultants," said NAPF director of policy, Nigel Peaple.

"Overall it is a very positive picture but there are some areas where improvement could be made - such as value for, pro-activity, training and member communications."

There were, however, a few areas for improvement highlighted. For DB schemes these were value for money, pro-active advice, training, supporting dialogue with the sponsor and value for money. For DC these were communication materials with members and again value for money.

- Pensions Age March 2009

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