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Savers blind to how pensions invested

28 September 2018

istock

Good Money Week is promoting investment in environmentally-friendly industries, including electric vehicles like this one, recharging in a London street

Good Money Week is promoting investment in environmentally-friendly industries, including electric vehicles like this one, recharging in a London stre...

MOST savers do not know how much of their pension is invested ethically, a new survey suggests.

A poll of 2074 adults carried out by YouGov for Good Money Week found that 47 per cent of savers agreed that they wanted both to “make money, and make a positive difference to the world”, while 39 per cent were concerned only about the former.

More than half the savers (57 per cent) said that investment managers “have a responsibility to ensure holdings are managed in a way that is positive for society and the environment”; but 76 per cent did not know how much of their pension was invested ethically, and 30 per cent believed that they had “no say” in how their assets were invested. But one quarter said that they would challenge their employer if they discovered that their pension was “invested in a company that acted against their personal values”.

Younger respondents were more likely to say that they wanted financial advisers to offer fossil-fuel-free options (57 per cent of those under 24 compared with 34 per cent of those over 45).

Simon Howard, the chief executive of UKSIF, the body co-ordinating Good Money Week, suggested that the findings pointed to “a real opportunity for forward-looking advisers to respond to this evolving market demand, and to offer a service that is aligned with what people want. The steady increase in support for fossil-free products, especially among the young, suggests this is a long-term growth story for the financial-advice market.”

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