NEWS   |    May 24, 2023

Pensions Equity Group – launch of industry coalition to tackle pensions inequalities in the UK

Arc Pensions Law is proud to be a founding member of the Pensions Equity Group (PEG), a new coalition of over 20 leading firms within the pensions industry who aim to tackle inequalities in UK pensions.

With many in society not saving enough for retirement, PEG brings together leading industry representatives to support and advocate for the role that large companies and schemes can play in supporting their members and colleagues.

In aid of helping millions more save for later in life, the group has outlined five core objectives:

  1. Developing a way of consistently measuring pensions inequalities, beginning with the Gender Pensions Gap before expanding to other pensions inequalities;
  2. Working with the 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 product developments across the industry that will help to drive greater equity.

PEG will be chaired by Kim Brown, Pension Scheme Director at Legal & General, with the Steering Committee meeting on a quarterly basis to provide an update on progress.

The initiative has received support from Laura Trott MBE, Minister for Pensions, who commented “it’s great to see the pensions industry coming together to help millions more people save for their futures.”

For more information on PEG’s activity, or to express an interest in joining, click here.

The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.

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