M
Member
Speaking in the House of Lords on 23 March 2026
Debate
Pension Schemes BillContribution
I have been asked previously about the legal effect of the duty to “have regard” to the guidance. Our amendments make it clear that trustees and delegated fund managers must genuinely consider the guidance and show that they have taken it into account, but they are not bound to follow it where they have rational grounds to depart. Trustees retain full discretion and independent judgment.
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