ShareAction recently published a report – The Engagement Deficit – assessing the UK’s largest auto-enrolment pension providers. The report focuses on two key areas, firstly, how responsible investment is being considered in default funds and secondly, the content and quality of communications and engagement with the millions of new UK savers.
These areas were selected as they have so far received little focus during the roll-out of auto-enrolment. The report also provides a series of suggestions and recommendations for the pensions industry, policymakers, and regulators.
According to the report, NEST placed first overall, with a special mention for their responsible investment credentials – specifically climate change awareness, scoring over 30 per cent higher than the second placed pension provider.
Helen Dowsey, Director of employer and intermediary experience at NEST said ‘we are very pleased to be recognised in this independently produced report on the UK pension industry, especially for our work on our climate aware fund. However, we agree there is more to be done and we hope that reports like this will continue to turn a spotlight on the industry to encourage pension providers to keep working towards better member engagement and ultimately empowering this new generation of UK savers.’
To read the full report and see how NEST compared with other UK pension providers follow this link to the ShareAction report.