The Pensions Regulator published equality, diversity and inclusion (EDI) guidance for pension scheme governing bodies and employers, aiming to improve the EDI of scheme boards.

Commenting on this new framework, Zoe Burdo, Senior Consultant at LCP, said:

“Many pension schemes and trustees know that focusing on diversity, equity, and inclusion is in the best interests of their members. We’re seeing an increasing number of our clients keen to develop their approach in this space as an issue, and that’s why we produced our own guidance on the topic and regularly provided hands-on support to help trustees navigate the options for action. 

Of course, many schemes also feel under pressure because of the amount of regulatory change they are facing in general and could see this guidance and the suggestion of having an official policy in this area as yet another bit of bureaucracy or form-filling to get their heads round. However, this will actually give trustees some concrete guidance and measurable actions to implement. We are pleased to see that the guidance not only covers representation, inclusion, and accessibility within trustee boards but much wider considerations for members and inclusive communications. Supporting trustees to better understand and challenge bias will be key to empowering the board to fully engage with the guidance, set tangible and realistic goals, and harness the benefits of a comprehensive approach to EDI.”

"It’s a real testimony to the support of these initiatives in the industry how broad and detailed the materials, driven forward by various working groups are.  We were delighted that two of our partners Nat Sims and Rachika Cooray were directly involved."