TUC Member Trustee News Spring 2013

Download: TUC Member Trustee News Spring 2013

In this issue you'll find the following features and articles:

• TUC fund Manager Voting Survey
• Stewardship Code update
• New code on DC changes
• Automatic enrolment: updated guidance for trustees
• Better earner have better pensions
• Impact investment
• DWP's 'Defined ambition' outlines risk-sharing options
• The Kay Review

Welcome to the Spring 2013 edition of TUC member trustee news.

Welcome to the spring edition f the TUC trustee news, the first since the TUC's Trustee Conference in November. Over 90 people attended the conference, with very positive feedback. Comments included 'very informative and worthwhile - also good for networking' and 'Enjoyable conference and good to meet up with other trustees as we all have the same difficult job in difficult times'.

Keynote speakers included Pensions Minister Steve Webb, whose paper on Defined Ambition schemes is featured on page 7, and Professor John Kay: reactions to his report on short termism in equity markets can be found on page 8. This year's conference will take place on Tuesday 26 November, so put the date in your diary now!

There is a questionnaire enclosed with the newsletter, asking for your views on the conference. We want to hear from those who don't attend as well as those who do so please do take the time to respond - thanks in advance! Presentations from the 2012 conference are available here. A data request form, to help trustees identify economies of scale, is available at the same address - this arises from the conference workshop on investment management costs led by Chris Sier of Stonefish Consulting.

The end of last year also saw auto-enrolment get under way, so the focus on DC provision continues. You can read more about the new code on charges and the Regulator's latest guidance on page 5.

Meanwhile in the DB universe, the Chancellor's commitment to consult on scheme funding has been welcomed by many, but also seen as undermining the Regulator's funding guidance; this will be a difficult few months for trustees who have valuations in progress.

DB schemes where accrual continues will also be seriously affected by the plans to end contracting out: the White Paper was published just as this edition was being finalised, so we'll cover that in detail in the next edition.

Download TUC Member Trustee News Spring 2013