A report released today finds that inappropriate benchmarks used by local authority pension funds and their advisers for alternative investments have artificially flattered performance, with its authors blaming a governance failure in the sector.

Prime minister David Cameron's policy-laden speech to his party's conference today put this week's abolition of the 55 per cent pensions inheritance tax at the heart of its message to core voters.

For the second time this year, it has not been the most impressive communication effort for the Tories' pensions policy. The annuity-busting Budget promised free, face-to-face advice that quickly turned into 'guidance' that was free, but not necessarily face-to-face and definitely not advice.

This time, there was a little bit of a gloss-over on the 45 per cent tax charge that would, at least until 2016/17, be levied on any lump sum that was passed to beneficiaries if a person died after age 75.

And three days after the announcement the Treasury was still explaining the limits of the policy, to the bemusement of the Twittersphere:

@JosephineCumbo is this what policy on the hoof looks like?

— Will Aitken (@WillJAitken) October 1, 2014

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Predictions that the Budget flexibilities would lure members out of defined benefit pension schemes have so far proved unfounded, as data show no uplift in the proportion requesting transfer value quotations.

Any other business: It has been a month where companies, governments and journalists have been accused of a personal bias. How do you ensure your trustees leave their personal interests at the door?

The equity market boom has left corporate pension schemes running an increasingly high amount of stock market risk, at a time when many are looking to derisk strategically.

“Whilst we’ve got some problems in the business, I also know that all of the answers are already here.” That was new Tesco boss Dave Lewis talking in a company interview posted last week.