Diversity & inclusion in pensions

Diversity and inclusion (D&I) is important but, quite frankly, it can be hard to know what it actually means and how to put it into practice.

We’re here to help you understand it in the context of your pension scheme, trustee board and pension members and take proportionate, sensible actions. A good place to start is taking a look at our guide to D&I for pension trustees and pension managers.

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Questions pension trustees and sponsoring employers need to consider include:

• Do we have a policy on diversity and inclusion for our pension scheme and trustee board?
• Do we have a suitable mix of skills, experience and background on our trustee board and amongst our pension advisers to achieve the best possible outcomes?
• Are pension trustee or in-house pension team succession plans in place? Will they facilitate the talent within our pension scheme operations and enable our people and our pension scheme to thrive?
• Is the ‘social’ part of our environmental, social and governance (ESG) investment objectives set? Am I clear on how this is being monitored?
• Are our pension communications to members in line with good practice in terms of language & accessibility? Do we really understand the diversity of our scheme membership?
• Are we aware of & managing unconscious bias in pension trustee decision making?

We can help you understand where you are in your diversity and inclusion journey and review your pension trustee board’s D&I effectiveness. We’ll form a strategic action plan for continuous improvement and provide tools and training to support agreed actions.

Struggling to understand what diversity and inclusion means for your pension scheme or know you need some expert help implementing D&I?

Get in touch, have a chat and see if PSGS can help.