New regulations require defined benefit pension scheme trustees to prepare and make available an Engagement Policy Implementation Statement (EPIS). The EPIS sets out how the Trustee has put the Statement of Investment Principles into practice, particularly around stewardship and engagement. You can read the Scheme’s EPIS here.
Voting and Engagement
The Trustee aims to be a responsible owner of the assets and markets in which the Scheme invests. An important part of this is making sure the Scheme’s investment managers exercise the rights the Scheme has as shareholders in companies to influence company behaviour though voting and engagement.
The Scheme’s investment managers are responsible for voting. The investment managers report to the Trustee on their proxy voting activities on a regular basis to help the Trustee and its advisers monitor the decisions taken on behalf of the Scheme.
The Scheme’s investment managers are responsible for engaging with companies on environmental, social and governance risks. The Trustee believes that the investment manager is normally best placed to engage with invested companies, given their knowledge of the company and the level of access they have to company management.