Since the Mansion House Compact of 2023, many large UK pension schemes have been committing to shift investment strategy. The Compact and follow-on initiatives aim to channel pension fund capital into growth assets – particularly those thought likely to improve UK economic performance. As a result, private equity, infrastructure, private credit and venture capital are
Sam Coldicutt
UK Pensions | To the victor the spoils: what the courts say about surplus distribution
By Sam Coldicutt on
In this latest blog in our Mansion House series, we consider what trustees newly empowered to distribute surplus when the Pension Schemes Bill comes into force will first need to consider. Whatever the statutory framework, there will normally be competing possible uses of surplus, and charting a way through competing claims while meeting their fiduciary…
UK Pensions | Surplus to requirements? Why the Government wants more law on returning surplus
By Sam Coldicutt on
In this our latest blog on Mansion House reforms, we turn from DC to DB, and more specifically to those record surpluses that many schemes are now enjoying.
These have understandably caught the eye of the Government. Imagine what UK plc could do with a £150bn cash injection – and imagine the tax on it.
UK Pensions | Squaring the circle: fiduciary duties v economic growth
By Sam Coldicutt on
This is the first in a series of blogs about the Government’s Mansion House reforms, and its goal to get pension schemes doing more for the UK economy.
Perhaps the biggest challenge to the Government’s ambition for pension schemes to drive UK growth is the humble fiduciary duty. Put simply, trustees must choose investments that…
UK Pensions: The Economic Crime and Corporate Transparency Bill – what does the UK’s latest crack down on fraud mean for pension schemes?
By Sam Coldicutt on
As part of a longstanding government programme to combat fraud, the Economic Crime and Corporate Transparency Act 2023 has just been passed, although the implementation timeframe has yet to be confirmed. It is a particularly wide-ranging piece of legislation. Should this be on the radar for pension scheme employers and trustees?
The most eye-catching part…
UK Pensions | An industry divided: what pensions professionals do not agree on
By Sam Coldicutt on
The Norton Rose Fulbright pensions team surveyed those attending its latest webinar on four of the topics under discussion. We thought the outcome of the votes was interesting enough to share.
In the first part of the webinar, I talked about regulatory developments in ESG. I raised a specific concern of mine: that politicians and…