The DWP has released a fact sheet explaining requirements established by Shareholder Rights Directive II (SRD II), from 1 October 2019, as it relates to workplace pension scheme stewardship and governance.

SRD II has been adopted into UK law through the Occupational Pension Schemes (Investment and Disclosure) (Amendment) Regulations 2019 (SI 2019/982) and the Pension Protection Fund (Pensionable Service) and

Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018 (SI 2018/988). The fact sheet provides a summary of the requirements and the rationale for them.

Under the heading 'Why it's beneficial', the DWP gives three reasons in support of SRD II:

• SRD II seeks to encourage investors to adopt a long-term focus in their

investment strategies considering social and environmental issues and being transparent about how they invest.

• It improves oversight of investments by pension schemes, asset managers and insurers, will help to create sustainable value for beneficiaries, and promote the long-term success of companies, the economy and society. . .

13 Sept 2019   Check other news items