Pension professionals are placing increased importance on sustainability in decision making, the Society of Pension Professionals (SPP) finds.
A survey by the organisation at a recent event found the majority of respondents (55%) are aware of the Sustainability Principles Charter – which seeks to align expectations around sustainability within the bulk annuity process, setting clear principles to drive greater transparency, decision making, reporting and engagement before, during and after a buy-in or buyout transaction.
The SPP found for most respondents of its survey, the charter would be a factor in selecting a bulk annuity provider for the schemes they advise.
A third (33%) said it would be a factor "for most" of the schemes they advise, while over half (55%) said it would be a factor "for some" of the schemes they advise.
Accounting for Sustainability executive director Kerry King, who chaired the SPP's event, said: "I was pleased to see that a majority of pension professionals are aware of the Sustainability Principles Charter. It was also really encouraging that 88% of those who responded to the polling agreed that it would be a factor in their selection of a bulk annuity provider.
"This is strong evidence of the increasing importance of sustainability in the decision-making process here."
Signatories of the charter include a range of pension schemes, insurers, advisers and professional trustees. See the full list here.
