NEWS   |    May 12, 2020

New trustee reporting rules: What you need to know about implementation statements

ESG remains a hot topic and new requirements for trustees continue to develop. From 1 October 2020, trustees of DB, DC and hybrid schemes with at least 100 members will have to include implementation statements in their scheme’s next annual report and accounts. Then publish it online. The purpose of the implementation statement is to require trustees to explain how they invested the scheme’s assets in line with the statement of investment principles during the scheme year.  This includes their polices on voting and engagement, but for DC and hybrid schemes is much broader than that.

Arc Pensions Law has partnered with River and Mercantile to develop a practical guide to answer some common questions being asked about the timing of the new requirements. The guide also aims to help trustees think about what their implementation statement might look like and how to get started.

The guide covers topics such as what kind of information trustees might include in their statement, including what questions they might ask their investment advisers and managers, and how can trustees approach the exercise of collecting and analysing information sensibly and pragmatically. Trustees can use the tools and questions in this document to help gather information from their investment advisers and managers to help form the basis of their implementation statement.

We’re here to help. For more information read Arc and River and Mercantile’s guide here.

The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.

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