An industry-wide taskforce has been established to assist occupational pension scheme trustees in managing social factors.
Pension plans, asset managers, data providers, cross-industry collaboration groups, and civil society are all represented on the Taskforce on Social Factors.
The Department of Work and Pensions (DWP) supports the secretariat, and government agencies and regulators, such as The Pensions Regulator (TPR), are observers.
TPR executive director for regulatory policy, analysis and advice David Fairs says: “Savers’ pension pots are at risk if trustees do not adequately manage financially materially social factors.
“I welcome the industry taking the lead in supporting trustees by launching the Taskforce on Social Factors (TSF).
“We look forward to collaborating with the TSF and seeing the development of its guidance and recommendations.”