UK Asset Owners Consulting on Fair Pay Tool  

A group of UK asset owners are working with the High Pay Centre to create a framework to assess a company’s approach to rewarding value creation across its multiple stakeholders, including board members, executives, workers, shareholders and society. The proposed Fair Reward Framework’s (FRF) indicators and assessment process are currently under consultation until 23 October. The FRF is intended to help inform investor stewardship and dialogue with companies on pay. The asset owners involved have been convened by the Church of England Pensions Board and Brunel Pension Partnership, and include Friends Provident Foundation, Local Pensions Partnership Investments, Nest, Pension Protection Fund, People’s Partnership, Railpen, Scottish Widows, and Universities Superannuation Scheme. FRF’s development has been informed by independent consultant Deborah Gilshan and Luke Hildyard of the High Pay Centre. Once finalised the asset owners plan to apply the FRF on a pilot basis during the 2023/24 AGM season focused on FTSE 100 companies.  

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