Pension Funds: Regulation

Department for Work and Pensions written question – answered at on 20 February 2024.

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Photo of Baroness Hayman Baroness Hayman Crossbench

To ask His Majesty's Government what plans they have to discuss with the Pensions Regulator how to incorporate into regulator guidance the conclusions of the Financial Markets and Law Committee’s paper, Pension fund trustees and fiduciary duties, published on 6 February.

Photo of Baroness Hayman Baroness Hayman Crossbench

To ask His Majesty's Government, following the publication of the Financial Markets and Law Committee paper on Pension fund trustees and fiduciary duties on 6 February, when they propose to hold the roundtables with stakeholders promised in the 2023 Green Finance Strategy.

Photo of Viscount Younger of Leckie Viscount Younger of Leckie The Parliamentary Under-Secretary of State for Work and Pensions

The Government welcomes the work of the Financial Markets Law Committee’s working group. Working with the Pensions Regulator, we will look closely at what insights we can draw from their report as we gather further evidence on how trustees are considering ESG factors in their approach to investment in the interests of their members.

This report is a useful resource for trustees, but we are keen to hear views from across the pension sector and wider stakeholders as to what further clarification, or guidance, if any, is needed. We plan to do this starting with a series of roundtable events this spring.

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