Pensions

Department for Work and Pensions written question – answered on 4th December 2015.

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Photo of Louise Haigh Louise Haigh Shadow Minister (Cabinet Office)

To ask the Secretary of State for Work and Pensions, if he will take steps to ensure that all UK Pension schemes are aware of (a) the findings of the Law Commission's report on Fiduciary Duties of Investment Intermediaries, published in June 2014, HC 368, and (b) related guidance to be issued by the Pensions Regulator.

Photo of Justin Tomlinson Justin Tomlinson Parliamentary Under-Secretary of State (Department for Work and Pensions) (Disabled People)

The Pensions Regulator has already taken steps to ensure that occupational pension schemes are aware of the findings of the Law Commission’s report on fiduciary duties.

In October 2014 The Pensions Regulator emailed over 37,000 pension scheme trustees to make them aware of the Law Commission’s report, and the guidance produced by the Law Commission on pension trustees’ duties.

The Pensions Regulator has also updated its ‘trustee toolkit’ training materials to reflect the Law Commission’s findings, and is updating its investment guidance with new material with reflects the Law Commission’s conclusions. This includes the revised Code of Practice and guidance for running defined contribution schemes, which is currently published for consultation.

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