Conflicts of interest policy
Produced in partnership with Christopher Stiles of Gowling WLG
Conflicts of interest policy

The following Pensions precedent Produced in partnership with Christopher Stiles of Gowling WLG provides comprehensive and up to date legal information covering:

  • Conflicts of interest policy

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: Brexit and IP completion day—the implications for pensions.

    1. 1

      Background

      1. 1.1

        This policy applies to the [trustees (‘the Trustees’) OR directors of [insert company name] (‘the Trustees’), in its capacity as corporate trustee] of the [insert name of pension scheme] (‘the Scheme’).

      1. 1.2

        It is the duty of each Trustee to act impartially and to promote the purposes of the Scheme, taking account of the interests of the beneficiaries of the Scheme as a whole. Beneficiaries include [active members,] pensioners and deferred members and those claiming through them, such as dependants.

      1. 1.3

        The Trustees may also take account of the interests of [insert name of sponsoring employer] (the ‘Employer’), as the Scheme sponsor, provided that this does not conflict with their fiduciary duty to the beneficiaries. Legal advice should be taken if it is necessary to establish whether a separate fiduciary duty is also owed to the Employer.

      1. 1.4

        The Trustees recognise

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