Pensions - Articles - PLSA say Stewardship Code has room for improvement


The Pensions and Lifetime Savings Association (PLSA) has today (Wednesday) welcomed plans by the Financial Reporting Council’s (FRC) to consult on a new Stewardship Code.

 The FRC is consulting on a new Stewardship Code that sets substantially higher expectations for investor stewardship policy and practice. The Code will focus on how effective stewardship delivers sustainable value for beneficiaries, the economy and society.

 Caroline Escott, Policy Lead, Investment and Stewardship at the PLSA, said: “As investors, pension schemes are ideally placed to take the long-term approach to investing savers’ money. It's therefore vital that schemes and their managers work together to be good stewards to protect and enhance the value of people's savings. The UK has long been seen as a global leader on stewardship issues and the Stewardship Code has played a key part in this.

 “However, there is room for improvement and we're pleased to see that many of these new proposals are in line with what our members have been calling for. Ensuring the Code clearly explains how the principles apply to asset owners should make it easier for them to make sure their asset managers are undertaking effective stewardship.

 “We also welcome the specific reference to environmental, social and governance issues as these can represent significant risks and opportunities to companies, so it's important these are drawn out. We look forward to continuing to work with pension schemes and the FRC to help shape the new Code."
  

Back to Index


Similar News to this Story

Willis Towers Watson and LCP on DWP GMP Conversion Guide
Willis Towers Watson and LCP respond to the DWP guide to GMP conversion
Barnett Waddingham and ARC Pension Law on DWP GMP Guide
Barnett Waddingham and ARC Pensions Law respond to the DWP GMP Conversion Guide
New research shows women at risk of financial meltdown
New research by mutual insurer Royal London has found large numbers of women across the age spectrum would be at risk of ‘financial meltdown’ in the e

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.