2018 UK Corporate Governance Code—Section 5—Remuneration
2018 UK Corporate Governance Code—Section 5—Remuneration

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • 2018 UK Corporate Governance Code—Section 5—Remuneration
  • Mini-index
  • Section 5—Setting the scene
  • Principle P
  • Principle Q
  • Principle R
  • Provision 32
  • Provision 33
  • Provision 34
  • Provision 35
  • more

This Resource Note outlines the main provisions of Section 5 of the 2018 UK Corporate Governance Code (2018 UKCG Code), on ‘Remuneration’, and highlights relevant third party materials, guidance, commentary and analysis, as well as resources, to give practical guidance on its application.

Materials covered in this Resource Note include:

  1. the Financial Reporting Council (FRC)'s 2018 Guidance on Board Effectiveness

  2. the Investment Association (IA)'s Principles of Remuneration 2019

  3. various guidance issued by the Chartered Governance Institute (formerly known as ICSA: The Governance Institute) (CGI)

  4. the 2020 United Kingdom and Ireland Proxy Voting Guidelines published by Institutional Shareholder Services (ISS)

  5. the Stewardship Guide and Voting Guidelines 2020 published by the Pensions and Lifetime Savings Association (PLSA)

  6. the UK Shareowner Voting Guidelines, published by Pensions Investment Research Consultants Ltd (PIRC), available from PIRC's website

  7. the Local Authority Pension Fund Forum (LAPFF)'s Expectations for Executive Pay (March 2013) (available from LAPFF’s website)

  8. resources in the Corporate practice area

Mini-index

Section 5—Setting the scene

Principle P

Principle Q

Principle R

Provision 32

Provision 33

Provision 34

Provision 35

Provision 36

Provision 37

Provision 38

Provision 39

Provision 40

Provision 41

Notes

Section 5—Setting the scene

In a nutshell... Section 5 deals with remuneration policies and practices (including the requirement for the remuneration committee to review workforce remuneration and related policies), the role and