PMI to provide equity, diversity and inclusion certificate training

The Pensions Management Institute (PMI) has partnered with Nelu Solutions to provide equity, diversity and inclusion (ED&I) certificate training for pension scheme trustees and administrators.

Under the partnership, the PMI is set to offer Nelu's certificate training in person from June 2023.

The decision was made following The Pension Regulator’s recent guidance confirming that it will begin collecting trustee board diversity data by next year, with TPR set to investigate the role board diversity and inclusion efforts play in the governance of pension schemes.

Nelu, a global ED&I consultancy, initially launched its certification suite in the US and UK earlier this year, offering organisational ED&I certifications for scheme sponsors and service providers, and individual ED&I certificates in health and retirement benefits.

Commenting on the new initiative, PMI chief executive, Gareth Tancred, argued that it has "never been more important" for the pensions industry to share ideas and good practices to encourage people from outside typical demographics to get involved with trusteeship.

"As an industry, we recognise we need to do more to encourage diversity and inclusion," he continued.

"We're launching this new certificate training to help the trustees and scheme administrators respond to this need. Boards whose trustees have different backgrounds and experiences are more likely to encourage debate and make better decisions."

Adding to this, PMI director of commerce and engagement, Varsha Gicas, added: “Regulators, scheme sponsors, and members increasingly expect trustee boards to consider diversity, equity, and inclusion as part of scheme administration.

“A lack of diversity and inclusion could mean a scheme misses out on potential opportunities or can't effectively mitigate risks. We're delighted to partner with Nelu to offer its ED&I certificate training to UK pensions professionals."

Nelu CEO, Uche Enemchukwu, added: "We wanted to develop an ED&I certificate specifically for pension trustees and those looking to advance their ED&I and environmental, social and governance (ESG) strategic objectives through their pension schemes.

“This training addresses everything from setting board diversity goals, creating inclusive environments for effective dialogue and decision-making, understanding and engaging with all scheme members in the age of auto-enrolment, and implementing ED&I goals as part and parcel of ESG strategic objectives.”

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