Written questions by Ali.

In relation to the statutory guidance on fiduciary duties announced during Report stage of the Pension Schemes Bill on 3 December 2025, when he intends to table this amendment to the Bill; whether he will consult on the guidance; and when he plans for the guidance to take effect.

Government has set out its intention to develop statutory guidance for the trust-based private pensions sector. The proposed guidance intends to clarify how trustees can interpret and apply their existing duties, particularly when considering wider or longer-term factors in investment decision-making. Government is developing this guidance in partnership with the pensions sector and will consult on the draft guidance. Further details including the legislation to underpin strategy guidance will be published in due course.

With reference to the Minister for Pensions' oral contribution during the Report Stage of the Pension Schemes Bill on 3 December 2025, Official Report, column 1043, whether the proposed statutory guidance on fiduciary duties and subsequent amendments to it will be subject to the negative or affirmative procedure for statutory instruments.

Government has set out its intention to develop statutory guidance for the trust-based private pensions sector. The proposed guidance intends to clarify how trustees can interpret and apply their existing duties, particularly when considering wider or longer-term factors in investment decision-making. Government is developing this guidance in partnership with the pensions sector and will consult on the draft guidance. Further details including the legislation to underpin strategy guidance will be published in due course.