Companies, property developments, infrastructure and governments: all of these things require investment. Where does that investment come from? In many cases the answer is us – savers, employees and consumers. Trillions of pounds worth of our retirement savings are invested in stocks, bonds and assets, meaning that together we effectively own many of the companies we see on our high streets.
But while the money invested is ultimately ours, the investment industry – the system which we hand that money over to – can be opaque, confusing and detached. It’s no surprise therefore that many savers want more of a voice in this system, and more say over how their money is spent.
That’s where we come in. We support savers to open up this system and to ensure it is a genuine force of good. We educate and organise savers to improve pension fund transparency and accountability, and to invest responsibly. We want to create good pension schemes: institutions we can take pride in, and place trust in. Alongside savers, we’ve defined what that a good scheme looks like, and are now pushing to see our recommendations put into practice.
- A good scheme listens
How our schemes speak and listen to us is vital. To ensure good communication and good accountability schemes should hold an annual member meeting.
- A good scheme is well governed
It’s our money, so we’ve got to be involved in the decisions about how it’s spent. Members should be able to stand for election, to ensure member-nominated trustees make up no less than one-third of the board.
- A good scheme invests well
Our schemes should ensure their investments don’t degrade the planet, harm people or fragment society. This approach will be win-win, benefiting us as investors financially and benefiting our families and communities too.
Through hard work and perseverance, progress is being made in these areas. With our help, savers have opened meaningful dialogue with decision-makers at their schemes. By organising in their workplaces and building teams of fund members, they been able to sustain energy and continue those interactions. Through that, savers have achieved real changes in investment policies and approaches at their funds.
We’ve built a network of passionate and focused members ready to change their schemes. We’re informed, we’re involved, we’re active and we’re working to ensure our money is a force for good. Get in touch with us to find out how you can use your Pension Power.