SPP 2026 Conference: The future of Fiduciary Duty
Online
Thursday 24 September 2026
09:00-10:15am
SPP 2026 Conference: The future of pensions at a time of fundamental change
Session 4: The future of Fiduciary Duty
Fiduciary Duty sits at the heart of investment decision making for pension scheme trustees. Risk adjusted returns remain central, but there are new kids on the block jockeying for position in the form of system level risks, member standards of living and member views. Trustees grapple with the division between material financial factors and non-financial factors. Trustees need to consider carefully how to deal with uncertainty, how to weigh factors and the appropriate time horizons. These issues combine with the drive of pension scheme assets into private markets, UK investments and sustainable investments. This session will explore all these issues and more, with a particular focus on how trustee decision making works in practice.
Speakers
Simon Daniel
Partner, Pensions, Eversheds Sutherland
Simon is a Partner at Eversheds Sutherland and the Chair of the SPP’s Investment Committee. He advises trustees and sponsors on all issues affecting the full range of occupational pension scheme, with a particular focus on investment matters and risk settlement through insurance. Simon leads Eversheds Sutherland’s Pensions Investment Group and is a leading Partner in the firm’s Pensions Insurance Group, having advised trustees, sponsors and insurers on more than £5.4bn worth of bulk annuity transactions to date.
Natalie Winterfrost
Head of Pensions, Law Debenture Pension Trustees
Natalie Winterfrost is the Head of Pensions at Law Debenture Trust Corporation where she is a professional trustee to a variety of pension schemes. Natalie started her actuarial career with a life insurer but moved to pensions consulting early in her career and then decided to focus on investment consulting. After a decade as an investment consultant she made the move to asset management, working for Aberdeen.
Natalie is a qualified actuary and a CFA Charterholder and has a particular focus on ESG and sustainable investing, chairing ESG committees for a number of large pension funds. She is past Chairman of the CFA Society of the UK and was awarded Fellowship of the CFA UK in recognition of her contribution to the investment industry.
David James
Partner, Travers Smith
David is a partner in the Pensions Department. He is a highly experienced pension partner and advises a wide range of pension scheme trustee boards. David also acts for employers and corporate activity planners in relation to pension arrangements.
David is a member of the SPP DC committee, the PLSA legal panel, the Pension Scams Industry Group, APL, the BVCA technical group looking at pension scheme investments in private capital and IPEBLA (international pension and employee benefit lawyers association). He is a member of the firm’s D&I board and sponsors the firm’s disability group.
Sir Robin Knowles CBE
Sir Robin Knowles is the independent chair of the collaborative work, across the sector and at the invitation of HM Government, to develop guidance for pension fund trustees on their fiduciary duties.
A member of the Financial Markets Law Committee and its governing board, Sir Robin chaired its work leading to its report on fiduciary duties in 2024.
The work above is undertaken extra-judicially but Sir Robin is a serving High Court Judge, sitting principally in the Commercial Court. He is a designated judge of the Financial List.
Before appointment to the Bench, Sir Robin was Chairman of the Commercial Bar Association. He is now the Judge with day-to-day responsibility for the Standing International Forum of Commercial Courts (SIFoCC), the global forum of the world’s commercial courts. He also serves as Chairman of the National Pro Bono Centre.
Andy Cork (Chair)
Partner, A&O Shearman
Over the last fifteen years, Andy has advised the trustees of some of the largest UK pension funds on strategic and technical matters including risk reduction, scheme funding and regulatory compliance. He is highly valued for his ability to translate technical pensions law into practical strategic advice for both trustees and companies.
View and register for other SPP Conference 2026 sessions:
The evolving DB market
Thursday 3 September
Online
Innovation in DC retirement solutions
Thursday 10 September
Online
Delivering pensions of the future
Thursday 17 September
In-person, A&O Shearman, London
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