Member

The balance that underpins our pensions framework is a deliberate one. Trustees are independent actors charged with making evidence-based decisions in the best financial interests of their members within the law. Where there are legal obligations that apply to investment activity, those are rules that pension schemes must follow, but it is for trustees, not Ministers, to determine how those rules are interpreted and applied in practice, scheme by scheme and asset by asset. For these reasons, although I respect the objectives of the amendment, I do not believe that it strikes the right balance, and I am unable to support it.