Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether she has made an assessment of the potential merits of changing fiduciary rules for pension fund managers to prioritise de-risking exposure to stranded assets.

The Law Commission confirmed in two reports – in 2014 and 2017 – that trustees have a fundamental fiduciary duty to their members. Government agree that trustees have primacy in investment decisions.

Fiduciary Duties of Investment Intermediaries (LC350) - July 2014 https://www.lawcom.gov.uk/project/fiduciary-duties-of-investment-intermediaries/

Pension Funds and Social Investment (LC374) – June 2017

https://www.lawcom.gov.uk/project/pension-funds-and-social-investment/