Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if he will make it his policy that trustees of defined benefit pension schemes are required to have a policy on stewardship.

We are currently consulting on potential changes to the Occupational Pension Schemes (Investment) Regulations 2005 which will support and encourage trustees of both defined benefit and defined contribution pension schemes to consider their approach to stewardship. This forms part of our consultation, entitled “Consultation on changes to the Investment Regulations following the Law Commission’s report ‘Fiduciary Duties of Investment Intermediaries’” which was published on 26th February 2015. The consultation period ends on 20th April 2015 and it is the intention that a Government response will be published later this year.