ShareAction has produced a House of Commons Pension Schemes Bill Committee stage briefing.

ShareAction encourages Committee members to table and speak in support of amendments to clarify pension schemes’ fiduciary duties. A recommended amendment is included in the Annex.

Clarification would support improved outcomes for UK pension savers and boost investment in UK growth. It would also support investment by pension schemes on housing, decarbonisation, regeneration, education and care – all matters raised by MPs at 2nd reading. This could be achieved without invoking any Government power to set asset allocation targets on pension schemes, such as that contained in the current Bill.