Member

Some have argued in the past that only primary legislation can move the dial on trustees’ duties. However, trustees and experts consistently tell us the opposite: that the existing law has much to offer—it is sufficient, but its application is sometimes misunderstood or inconsistently interpreted. They have been clear that trustees do not need new obligations; they need assurance. This amendment provides that assurance. By creating statutory guidance to which trustees must have regard, it strengthens the defensibility of trustees’ decision-making and reduces the scope for legal challenge. In doing so, it supports better long-term investment, improves consistency across schemes and ensures that trustees are equipped to consider the risks and opportunities that increasingly shape member outcomes.