Jurisdiction(s):
United Kingdom

Key definition

Interest policy definition

What does Interest policy mean? An interest policy is a law firm’s written approach to when and how it pays interest to clients on client money held in a client account. It explains the circumstances in which interest is paid, how it is calculated, and any de minimis threshold below which no payment is made. In England and Wales, the sra accounts rules 2019 require firms to account to clients for a fair sum in lieu of interest on client money and to have a transparent policy available to clients on request. In Scotland, Northern Ireland and Ireland, the Law Society Accounts

Conflicts of Interest Policy and Procedures for Trustees of Occupational Pension Schemes

Published by a LexisNexis Pensions expert

Precedents

1 Background

1.1 This policy covers the [ trustees (‘the Trustees’) OR directors of [ insert company name ] (‘the Trustees’), acting in its role as corporate trustee ] of the [ insert name of pension scheme ] (‘the Scheme’).
1.2 Each Trustee has an obligation to act even‑handedly and to advance the aims of the Scheme, while considering the interests of the Scheme’s beneficiaries as a whole. Beneficiaries comprise [ active members, ] pensioners, deferred members, and those asserting rights through them, such as dependants.
1.3 The Trustees may, where appropriate, consider the interests of [ insert name of sponsoring employer ] (the ‘Employer’) as sponsor of the Scheme, so long as this does not cut across their fiduciary obligations to beneficiaries. Legal advice should be obtained if it is necessary to determine whether a distinct fiduciary duty is also owed to the Employer.
1.4 The Trustees acknowledge that, at times, their personal interests or other responsibilities may conflict with—or could reasonably be perceived to conflict with—their functions as a Trustee of the Scheme...

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Christopher Stiles

Gowling WLG

Christopher Stiles is a partner based primarily in Birmingham who helps clients to deal with any contentious or non-contentious legal issues that may arise in relation to their pension plans with the greatest possible ease and efficiency.Pensions can be a challenging area for employers, with pension plans that ranging from legacy arrangements that are now closed to accrual, but are still a major liability on the balance sheet, to ongoing plans that are used to reward current employees.Christopher takes a particular interest in innovative and complex projects including asset-backed funding arrangements, liability management exercises and buy-outs.On the trustee side, Christopher has close ongoing relationships with his trustee clients and helps them through the legal issues they face in running their pension schemes, both the day-to-day problems and larger projects including scheme mergers and wind-ups...

Web page updated on 22/05/2026

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