This report presents the findings of the NAPF’s seventh annual survey of pension funds’ engagement with investee companies. The NAPF believes that engagement with investee companies is a vital part of the investment management process, and the NAPF survey provides evidence that UK pension funds do indeed take this responsibility seriously. The survey is an effective means for pension funds to assess the extent to which their own engagement practices currently meet the expectations of the Government and the investment industry more widely. This year’s survey is particularly significant, with the role of investors in helping to shape the long-term success of UK companies remaining in the spotlight.