Diversity in the pension industry - Samantha Seaton, CEO at Moneyhub commented:
“There is a lack of diversity among pension providers, with many boards being dominated by men over the age of 30. These baby-boomers are all too often disconnected from the next generation of savers, so the important message of pension saving gets lost in translation. The key to engaging people is making sure that pension providers update their offering to reflect the demands and requirements of modern savers.
“In order to challenge the status quo, boards need a vocal advocate for change to help drive forward innovation. This doesn’t necessarily need to be a pensions expert. In fact, hiring a non-pension’s expert on the board, can bring a freshness to the conversation. Someone who has a good understanding of other people, for example, will help to drive customer engagement. By embracing change and innovation, pension providers can play a central role in closing the savings gap, and secure the financial future of their members.”