Voting by pension fund trustees: NAPF guidelines

Resource type: Legal update: archive

Status: Law stated as at 21-Jan-2005

Jurisdiction: United Kingdom

On 19 January 2005 the NAPF published a 'voting made simple' guide for trustees. The guide reminds trustee boards that they must exercise their responsibilities in their beneficiaries' best interests, and states that to this end they should: (1) introduce, develop or review written voting policies which provide for regular, considered voting; (2) confirm that the investment management and custodial agreements properly cover responsibilities for executing a considered voting policy; (3) record the policy on voting in the Statement of Investment Principles and explain the policy in appropriate documentation which is available for scrutiny by pension scheme members; (4) verify that, where voting has already been delegated to investment managers or other agents, voting has occurred regularly and in accordance with the agreed policy; and (5) embrace, as good practice, the principles on voting contained in the Combined Code and in guidance issued by member associations and other relevant bodies. (For some background, see PLC practice notes, Corporate governance: the environment and Trusts in commercial transactions)

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  • Resource ID: 4-200-1680
  • Law stated date: 21-Jan-2005
  • Products:  PLC UK Commercial, PLC UK Corporate, PLC UK Employment, PLC UK Law Department, PLC UK Private Client
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