The Pensions and Lifetime Savings Association publishes topical questions to aid trustees in considering the effectiveness of their managers’ stewardship activity. We encourage funds to ask these questions during their regular manager reviews in an effort to understand their managers’ approaches and activities and to ensure that they are adhering to the stewardship policies.
January's topical question for your manager
Background: The £100m pay-out to Persimmon Chief Executive of Persimmon has attracted public criticism and resulted in the departure of the Company Chairman, who failed to set a cap on a 2012 share award, prior to the introduction of the Governnment’s ‘Help-to-Buy’ scheme which contributed a huge boost in the company’s share price. However, the scheme was overwhelmingly approved by investors in 2012, and only 10 per cent endorsed the remuneration report in 2016.
Question: How have you voted on remuneration policies and reports at Persimmon in recent years? Do you support the nine-figure payout to the Chief Executive? And are you insisting on caps on the value of future share awards?
Find more questions for your manager here.