Regulator kicks off its first D&I trustee survey
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The Pensions Regulator is inviting all pension trustees to take part in its first diversity and inclusion survey so it can build a clearer picture of trustee diversity. Results are expected to be released before the end of this year.
The survey will:
- explore the proportion of trustees with protected characteristics, their academic and socio-economic backgrounds and work experience
- discover trustees’ views on diversity and inclusion, in a measurable way allowing for TPR to detect changes in sentiment over time
- understand what diversity and inclusion data about trustees is being recorded by schemes and its intended use
- record actions being taken to ensure diversity and inclusion among trustees in their work and whether information on benefits for savers is being captured
- measure awareness of TPR’s equality, diversity and inclusion (EDI) action plan
The online survey will be anonymous and comes after TPR research found most schemes did not formally capture diversity data in relation to their trustees, usually because it was not felt to be relevant due to the small size of the trustee board or scheme.
Fewer than one-in-five schemes (17%) formally obtained and recorded any diversity data in relation to their trustees, a similar figure to 2021 (14%).
The data most likely to be recorded was on sex and age, followed by ethnicity, disability and education. Very few schemes recorded data on religion/belief, gender identity or orientation.
Louise Davey, TPR’s director of regulatory policy, analysis and advice, said diversity and inclusion are important for good governance and decision-making, and therefore in achieving good saver outcomes.
“This online survey will help us build a picture of trustees’ diversity so we can effectively measure our progress in promoting high standards of diversity and inclusion,” Davey added.
TPR plans to send invites to roughly 97,000 trustees and board members of public service pension schemes. Emails containing a link to the survey will be sent out later this month. The deadline for responses is 4 August.
The regulator published an action plan on equality, diversity and inclusion in September 2022; the trustee survey is one of the deliverables of its plan. Another was the publication of EDI guidance in March this year.
Will you take part in the survey?
