Savers to have more control over pension investments
19th June 2018
Members of pension schemes will have more choice about the social and environmental impacts of how their retirement savings are being invested, under new government regulations.
The rules will require pension companies to assess the sustainability of their investment decisions, and make this information available to members of the scheme.
Retirement savers will be able to monitor the impact of these investments on issues like climate change, poor corporate governance and socially harmful practices.
This should provide greater control over how their money is used by the companies running workplace pension schemes, which invest more than £1.5 trillion across the UK.
Esther McVey, secretary of state for work and pensions, said:
"These new regulations will empower savers all over Britain, ensuring their voices are heard when their savings are invested.
"This money can now be used to build a more sustainable, fairer and equal society for future generations."
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