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ARTICLE · 19 JANUARY 2023

Legal Issues In Setting Investment Consultant Objectives

Shepherd and Wedderburn
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From 1 October 2022, the Pensions Regulator (TPR) has assumed responsibility for oversight of the requirements for pension scheme trustees to set objectives for their investment consultants.

United KingdomStrategy
Richard Jones
Richard Jones
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From 1 October 2022, the Pensions Regulator (TPR) has assumed responsibility for oversight of the requirements for pension scheme trustees to set objectives for their investment consultants. Richard Jones discusses what this change means for trustees and highlights the key requirements contained in the amended Scheme Administration Regulations and accompanying guidance issued by TPR.

Trustee investments are under increasing scrutiny. A key regulatory protection is the requirement for pension scheme trustees to set objectives for their investment consultants, and to review performance against these objectives.

From 1 October 2022, the Pensions Regulator (TPR) assumed responsibility for oversight of this area from the Competition and Markets Authority (CMA). These requirements are now contained in amended Scheme Administration Regulations and TPR has issued guidance to accompany the new regulations.

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