Atlas Master Trust has released a manifesto which calls for changes in the UK pensions culture to empower pension scheme members.

It says that the campaign aims to deliver “pensions for the people, by the people” to champion the rights of the “excluded millions” in workplace schemes.

The campaign was launched after Atlas found that 72 per cent of pension scheme members were not engaged with their company pensions.

Furthermore, it discovered that only 15 per cent felt empowered by their pensions.

Commenting on the manifesto, Atlas Master Trust CEO, Gary Smith, said: “Putting the member first in everything we do should be the guiding principle of workplace schemes.”

“But most members lack agency and have little influence over decisions that are made about their money, despite being the beneficial owners of over £3trn in assets.”

“We’re launching our Member Manifesto to focus attention on the rights of members. As the ultimate owners of those billions of pounds of assets, members should be front and centre in the design of pension products yet all too often their views are ignored.”

Atlas's research also found that there was high demand for sustainable investment integration among members, who wanted their pension savings to be invested more ethically and sustainably.

It called for changes in pension culture through member empowerment and a greater focus on ESG factors.

Its manifesto consisted of ten points, including consulting regularly with members, improved customer service, avoiding complexity and embedding strong ESG principles into investment decision-making.

Smith concluded: “We believe that this member-focused revolution should have three powerful aims: customer empowerment; customer-centric design and delivery; and meaningful ESG integration.”

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