The pensions industry needs to put diversity at the top of its agenda, the PLSA has said.

Speaking at the PLSA Investment Conference today, the Association's chair Lesley Williams explained that there is a need to fully address diversity in the sector.

Setting the theme for the conference, Williams said "I hope you will find some reason, if you already haven't, to put diversity at the top of your agenda.

Williams discussed the PLSA's newly launched "Breaking the Mirror Image" campaign which looks to encourage greater diversity on trustees boards.

According to a survey by the PLSA last year, the pensions industry is yet to become a diverse sector. The research highlighted that when it comes to gender, governance boards are 83 per cent male.

As a result of issues like this, the campaign will begin by looking at gender diversity and then broaden to other forms of diversity such as race, age, disability, sexual orientation and social class, once this has been achieved.

Furthermore, it was noted that the asset management sector in particular must diversify to ensure continued success and that the PLSA, as part of its initiative will look at "helping trustees with how to recruit diversely".

The Pensions Regulator will also be offering its support to the PLSA’s initiative. TPR chief executive Lesley Titcomb said earlier this week: “Good governance is the foundation of a well-run pension scheme, and diverse trustee boards can help deliver this. One of our key priorities is to improve governance of pension schemes so they deliver good member outcomes.”

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