PLSA Comments on BEIS Industrial Strategy Announcement | Pensions and Lifetime Savings Association

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PLSA Comments on BEIS Industrial Strategy Announcement

28 Nov 2017

Commenting on The UK’s Industrial Strategy (click here) as announced by The Department for Business, Energy and Industrial Strategy (BEIS):

Luke Hildyard, Policy Lead for Stewardship and Corporate Governance, said:

“As significant long-term investors, pension funds welcome the long-term focus of the industrial strategy white paper.

“The focus on better disclosures to investors is especially positive, but requirements to report on capital allocation should include human capital. Investment in training and development by the UK’s biggest employers is crucial both to economic productivity and to the long-term success of our companies and the pension funds that invest in them.

"Despite this, companies provide very little information of this nature to investors. For example, just 21% of the FTSE 100 provide data on training and development, and just 9% provide their internal hire rate.  The PLSA has previously highlighted the low levels of reporting in this area, and provided advice for pension funds on the information they should require from investee companies.”

Link to the Full Hidden Talent Report which includes these statistics - click here

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PRESS CONTACTS

Lee Blackwell, Head of Media & PR, Pensions and Lifetime Savings Association
T: 020 7601 1726, M: 07713 073 023, E: lee.blackwell@plsa.co.uk

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1748, M: 07901 007 713, E: kathryn.mortimer@plsa.co.uk

Eleanor Carric, PR Manager, Pensions and Lifetime Savings Association
T: 020 7601 1718, M: 07825 171 446, E: eleanor.carric@plsa.co.uk

ABOUT THE PENSIONS AND LIFETIME SAVINGS ASSOCIATION

We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.

Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.