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Please find attached a UNISON briefing on a very important development.
 
  
  • Pension funds pay very little if any attention to the views of scheme members on how their money is invested and how their property rights, such as voting shares at company AGMs, are managed. This proposed legislation importantly opens up a line of accountability between trustees and their scheme members that UNISON strongly welcomes.
  • We therefore urge you to take part in the consultation and the survey attached to it.
  • This briefing sets out the responses to the DWP’s questions from UNISON to help and encourage you to make a submission, either as a Trustee or a scheme member. The deadline for submissions is 16 July  https://www.gov.uk/government/consultations/pension-trustees-clarifying-and-strengthening-investment-duties
  • Or take the Survey
    https://getinvolved.dwp.gov.uk/pensions/sip/
  • In the UK, following the introduction of auto-enrolment (employers must put their employees into a pension scheme), there are now at least 30m worker-savers contributing to pension funds and several million drawing down their savings in retirement. The estimated wealth of UK pension funds is around £3trilion; this money has been invested in a wide range of assets, such as company shares and bonds, government bonds and property funds.

    These assets ensure that pension fund trustees are in effect stewards of this capital and they are expected to ensure that the stewardship of the fund’s assets is carried out in the interests of scheme members.
  • Read the full UNISON briefing here   http://msgfocus.com/files/amf_unison/project_131/Briefing_DWP_consultation_on_ESG.pdf