What is the issue?
Pension savers need and want financial products that are flexible, easy to use and address both their financial and ethical interests for the long term. While there has been innovation in some areas in response to new pension “freedoms”, to date there has been little innovation to ensure the saver has access to information and is consulted as products and funds are designed. ShareAction believes that there is genuine unmet demand for innovative savings products but there are varied barriers to the development and uptake of such products.
What did the project try to achieve?
The aim of the project was to identify what is preventing the development of social pension products that meet the financial needs and ethical concerns of pension savers. The project aimed to map the current landscape of social and ethical pension products; identify the blockages in the current market, specifically barriers affecting employees, employers and pension providers; explore how these barriers may be overcome and make recommendations to industry and policymakers to address these barriers.
Who might be interested in this project?
This project would be of interest to pension savers, pension fund professionals and trustees, investment intermediaries, policy makers and financial sector regulators.
The full report from Share Action is available here: https://shareaction.org/pensions-that-matter/