This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
Most pension trustee boards lack diversity
Three out of four UK pension trustees work at schemes where over 60% of board members are male. Another 70% add that at least four out of fiveboard members have tertiary education.
Most pension schemes also lack age diversity, with two-thirds saying that less than 20% of their board is under the age of 45. This makes succession planning and talent development in pensions very difficult.
DEI remains a low priority for many trustees
The regulator set out a detailed action plan to help encourage trustees to increase DEI in the pensions industry. In addition, the pensions industry has access to several external and well-established resources like the Diversity Project’s Culture Guide or the National Equality Standard. Yet despite these being readily available, most trustees are not utilising key DEI guides or standards.
Commenting on these findings, Darren Redmayne, CEO of Cardano Advisory, said:
As our research and own experience at Cardano shows, the pensions community has a long way to go to improve DEI within schemes and the wider industry. Achieving more diverse boards will require continued collaborative effort alongside developing standards and realistic targets that can be understood and achieved. Positively, our research shows strong willingness to embrace DEI initiatives and wide recognition of its benefit to scheme governance and decision-making - enabling better pensions outcomes for members.