This week, the Society of Pension Professionals (SPP) held an event to explore the evolving role of sustainability in pension buy-outs and what it means for advisors and trustees.
The hundred or so pension professionals who attended the event were initially asked if they were aware of the Sustainability Principles Charter. The majority of respondents, 55% said that they were, with the remaining 45% stating that they were not aware of the Charter.
The event ended with a poll asking to what extent the Sustainability Principles Charter is likely to be a factor in selecting a bulk annuity provider for the schemes that attendees advise.
A third of respondents (33%) said, “Yes, for most of the schemes I advise” whilst 55% said, “it will be a factor for some of the schemes I advise, but not the majority” and the remaining 12% chose the option, “I do not expect this to be a factor for many/any schemes I advise”
Kerry King, Executive Director, Capital Markets, Accounting for Sustainability, who chaired the SPP event said: “I was pleased to see that a majority of pension professionals are aware of the Sustainability Principles Charter. It was also really encouraging that 88% of those who responded to the polling agreed that it would be a factor in their selection of a bulk annuity provider. This is very strong evidence of the increasing importance of sustainability in the decision-making process here.”
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