Huw calls for increased pension transparency ahead of Good Money Week
Huw joined with a group of MP’s this week to ask their pension scheme, the Parliamentary Contribution Pension Fund (PCPF), for a meeting with representatives from the fund to discuss how their savings are invested.
Taking part were Huw; Caroline Lucas, Green MP for Brighton Pavilion and Member of the Environmental Audit Committee; Barry Gardiner, Labour MP for Brent North and Shadow Minister for Energy and Climate Change; Dr Lisa Cameron, SNP MP for East Kilbride, Strathhaven and Lesmahagow; and Liz Saville Roberts, Plaid Cymru MP for Dwyfor Meirionnydd. The group is planning to formally request a commitment from the trustees to meet regularly with interested members to discuss the scheme’s investments.
The action is part of a wider initiative by Responsible Investment charity ShareAction and USKIF, to encourage pension funds to engage with beneficiaries, during Good Money Week. Savers at NEST, The Pensions Trust, Scottish Widows, Legal and General and Aviva have taken action so far by asking their schemes to engage with savers through meetings, member forums and Annual General Meetings.
For Good Money Week, ShareAction has launched an online e-tool that savers can use to email their pension fund and ask whether it currently meets with members. http://action.shareaction.org/page/content/my-money-matters/