Over half of pension savers want proactive scheme notifications of fossil fuel investments

Over half (52 per cent) of workers want their pension provider to proactively tell them if they are investing in fossil fuels, according to research from Teamspirit.

This increased to 64 per cent amongst savers aged between 18-34, whilst those aged over 55 were “significantly less bothered”, with just 36 per cent wanting a proactive notification.

The survey also revealed that nearly three in five (57 per cent) workers care about the values of the companies their pension is invested in and how they operate, increasing to almost three quarters (73 per cent) of those aged 18-34.

A further 26 per cent of this subset for all ages also stated that the companies they invest in must act in a responsible way and tackle key issues, such as climate change, modern slavery, and the gender and diversity gap.

However, almost a third (31 per cent) of workers remain concerned about how these beliefs could affect the performance of their pension.

Commenting on the findings, Teamspirit director, Emma Evans, said: “Encouraging people to engage with their pension is a bit like getting kids to eat their veg; most of us know the value of it but we don’t always fully commit.

“Recent events have however focused the mind when it comes to pension savings and there is a growing force for good among savers.

“Most people in workplace schemes, and significantly young people, want to know that their money is rightly tackling key issues like climate change, modern slavery and the gender and diversity gaps."

She continued: “So let’s talk to workers about that and how the money invested into their pension each month can actually make a difference.

"Let’s lift the lid and enable greater knowledge by showing people how to check what their pension gets up to starting with education about the impact on investment performance.

“Online seminars and lively email content are one part of the solution once we have their ear but we need to grab their attention first.

“We need to think about video, animating the experience through games, harnessing the power of influencers and creatively educating, informing and sharing experiences for the better. Only by transforming the way we think, act and communicate will we be able to make a difference."

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