TPR DB investment guidance provides welcome direction for trustees

Stuart O’Brien, partner at Sackers, comments:

“TPR’s latest guidance on trustees’ investment responsibilities provides real practical support for those grappling with investment governance in DB schemes.

The guidance is comprehensive and well-pitched, covering everything from the basic legal principles to more intricate considerations, such as the use of different types of assets as part of a pension scheme’s portfolio.

TPR is right to draw out specific elements such as environmental, social and governance (ESG), as trustees need to take an active decision as to whether these factors are financially material for their scheme – something which is not always straightforward in practice.”

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