by M. Scott Donald PhD CFA
Director, Centre for Law, Markets and Regulation

The trustees of pension funds in the United Kingdom and Australia are responsible for administering the retirement savings of millions of individuals. This paper examines those responsibilities specifically in the light of three contemporary challenges: the existential threats of climate change and viral pandemic, and the development of cryptocurrencies. It identifies that that the nature of the uncertainties in each case is different, and that consequently the approach expected of pension fund trustees in relation to each is also different. It further identifies that prudent administration of a fund in the face of these distinctive uncertainties requires attention not only to the investment strategy of the fund, but to the governance structure and processes of the trustee itself.

Read the full paper here.