Voting Policy 2026

Railpen’s Global Voting Policy 2026 sets out how we will vote at company AGMs in 2026 to protect and grow the long-term value of the railways pension schemes.

The 2026 policy reflects Railpen’s four corporate governance focus areas, which are as follows:
  1. Corporate culture and purpose
  2. Board composition and effectiveness
  3. Remuneration and alignment of incentives
  4. Shareholder rights, risk and disclosure
The policy outlines Railpen’s perspectives on emerging governance and sustainability risks, such as climate accounting and responsible technology, considered to be most material to the scheme’s portfolio, and its expectations for companies on how to manage them effectively.