Achieving enlightened fiduciary standards in private pension saving

This project will focus on how to put into practice principles on investors’ legal duties to the savers whose money they manage. This will be achieved through the following activities:

  • Business models for responsible investment. Achieving fiduciary standards requires more than imposing legal obligations. It also requires institutions and business models which effectively align the interests of intermediaries with those of the people they serve. A seminar series will explore how a truly responsible and accountable pension system might look: e.g. would it be dominated by non-profit / non-shareholder models? Would the ‘Big Bang’ liberalisation be reversed? A final report would be published in early 2014.
  • Democratising investment. Empowering pension savers to understand and engage with their investments is an important part of FairPensions' mission, but their right to do so is far from universally accepted. A short report will be produced, based on desk research, making the legal and practical case for beneficiary engagement, presenting case studies and setting out best practice recommendations for funds.
  • Benchmarking surveys. FairPensions' annual investor surveys are widely respected and effective in spreading best practice. Within this project they will survey occupational pension funds in 2013 and asset managers in 2014. 
Project details

 

Researcher:

Catherine Howarth, ShareAction

Funding Programme:

Open Door

Grant amount and start date:

£130,612

1st December 2012

Publications

 

Our Money Our Business (2013)

Our Money Our Business: Best Practice Guide (2013) 

Entrusted with our Future: A survey of the responsible investment performace of UK pension funds (2014)