The Pensions and Lifetime Savings Association (PSLA) comments on the recommendations of the Taskforce on Pension Scheme Voting Implementation (TPSVI).
Joe Dabrowski, Deputy Director of Policy at the PLSA, said: “The PLSA firmly believes that pension schemes and fund managers that engage fully with their stewardship responsibilities perform better over the long-term.
“Managing more than £2trn of UK savers’ retirement savings, pension schemes wield significant power to influence investee companies to incorporate the highest standards of governance and to ensure their business practices are well placed to deliver value to the millions of pension savers they represent.
“The PLSA has supported pension schemes with practical tools and guidance in recent years, including comprehensive Stewardship and Voting Guidelines – highlighted in the report – to help asset owners exercise their vote on company resolutions, and our Engaging the Engagers toolkit to help schemes achieve effective stewardship through their investment managers.
“In addition to this, we joined forces with the Investment Association in January 2021, forming a steering group to examine how stewardship and a focus on long-term investment can be better integrated into the investment process to create sustainable value for savers and investors.
“We are therefore pleased to see the TPSVI has made recommendations that, if adopted by Government, will give savers more of a say, in particular in pooled funds, in how their money influences company behaviour and have the power to turn best practice stewardship into standard practice, ultimately improving the retirement outcomes of millions pension scheme members.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]
Steven Kennedy, Senior PR Manager
020 7601 1737 | 07713 073024 | [email protected]