Protecting Defined Benefit pensions schemes

The proposed changes are intended to confirm that trustees should take into account environmental, social and governance factors (including climate change), that amount to financially material risks, when making investment decisions.

Overall, the government views the current protection and regulation regime positively.  However, it highlights some areas that it believes would benefit from improvement in the form of additional legislation or guidance, and increasing the powers of the Pensions Regulator (“tPR”).  

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