01 June 2023

A new group has been formed to tackle pension inequity across the UK, made up of 23 pension companies and organisations.

The Pensions Equity Group (PEG) will be chaired by Kim Brown, pension scheme director at Legal and General, and from other organisations is made up of:

  • Abrdn
  • Aegon
  • Aon
  • Arc Pensions Law
  • Aviva
  • Barnett Waddingham
  • Dalriada Trustees
  • Hymans Robertson
  • Legal & General
  • LCP
  • Mattioli Woods plc
  • MFS Investment Management
  • NOW: Pensions
  • Pinsent Masons
  • Pensions Policy Institute
  • PLSA
  • Quietroom
  • Royal London Group
  • Smart Pension
  • Sackers
  • Scottish Widows
  • WTW
  • USS.

The groups have stated their objectives as:

  1. Developing a way of consistently measuring pension inequalities, beginning with the Gender Pensions Gap before expanding to other pension inequalities.
  2. Working with government and policymakers to achieve positive change.
  3. Sharing best practice approaches to help employers address inequalities.
  4. Finding practical tools to empower individuals, such as planning tools and guidance.
  5. Highlighting potential industry product developments that will help drive greater equity for individual savers.

The PEG will work across 4 main areas:

  • data and research
  • government and policy
  • communications and awareness
  • product changes.

The CIPP will keep an eye on the developments to come out of the group, supporting the mission to ensure pension adequacy for the nations workers.

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