In All Our Best Interests: Reforming Fiduciary Duty for the 21st Century
We welcome the UK Government's commitment in the recently updated Green Finance Strategy that the Department for Work and Pensions will review pension trustee fiduciary duties' in relation to net zero goals.
This briefing sets out why the Government must seize this opportunity and reform pension trustee fiduciary duties. Clarifying in law that pension savers 'best interests' go beyond purely financial concerns - a proposal first set out in ShareAction's Responsible Investment Bill, must be at the heart of this.
The central duty to act in savers best interests should include considering the impact of decisions on people and planet, and the views of pension savers.