ShareAction, the responsible investment charity has proposed an amendment, which Pensions for Purpose and others have supported, to simplify pension schemes’ fiduciary duties.

This clarification of pension schemes’ fiduciary duty would give trustees greater legal certainty to consider system-level financial risks such as climate change, health, housing and education, and to invest for members’ long-term living standards. It offers an alternative to the government’s proposed 'reserve power' to direct investments, ensuring schemes can act confidently improving outcomes for UK pension savers.

As a member of the Better Pensions Coalition, Pensions for Purpose encourages our members to support the tabling and adoption of this amendment before the bill’s Report stage.

Read ShareAction’s full Committee stage briefing