The Charter was introduced by HM Treasury to ensure signatory organisations can work together to help build greater gender balance in financial services, reflecting the government’s aspiration to see gender balance throughout the industry.
Through signing the charter, the PLSA has committed to promoting gender diversity by:
- Having a member of the senior executive team who is responsible and accountable for gender diversity and inclusion
- Setting internal targets for gender diversity in senior management
- Publishing progress annually against these targets in reports on the website
- Having an intention to ensure the pay of the senior executive team is linked to delivery against internal targets on gender diversity
The PLSA’s target under the Charter is to have an ‘equality target’ i.e. 50% women in the Senior Management Team by 2021. We are proud to say that we are currently at this target level. We have additional targets for the PLSA Board and Policy Board. At present, 58.8% of the Policy Board and 37.5% of the PLSA Board are women (50% of our independent/non-executive directors are women).
Mark Cooke, Chief Operating Officer, has been appointed as the Senior Management Team (SMT) member responsible and accountable for the PLSA’s diversity and inclusion work. Commenting on the PLSA becoming a signatory of the Charter, Mark said:
“I’m proud to be the PLSA Director responsible for gender diversity and inclusion under the Women in Finance Charter. The PLSA has long made it clear that we expect to see diverse boards at the companies in which pension schemes invest. Yet many pension fund trustee boards and the top levels in pension schemes’ own executive teams lack diversity. Living up to our commitments under the Women in Finance Charter is just one way in which the PLSA is stepping up our work to improve diversity across the pensions industry.”