BT and the BBC have topped a league table of the UK’s workplace pension schemes for responsible investment, according to research by charity ShareAction.
BT and the BBC came joint top with a score of 35 out of a possible 40, followed by the universities’ superannuation scheme in third place.
In contrast, GlaxoSmithKline, Barclays and Rolls Royce were given the lowest scores for this aspect of their pension schemes, scoring just one point between them.
ShareAction evaluated pension schemes based on they action thet take to address members’ concerns about the behavior of the businesses they invest in, as well as how actively they use shareholder voting rights and interact with companies.
Its survey also found that transparency and communication with employees remains poor among larger, older pension schemes. In comparison, newer master trusts show more interest in communicating with members.
Catherine Howarth (pictured), chief executive of ShareAction, said: “The pension schemes we have ranked are among the UK’s most powerful investors, but our survey shows that only a few take that responsibility seriously.
“If big employers like GlaxoSmithKline and Barclays want to improve, they need to make sure their pensions schemes invest in a way that is transparent and accountable.
”There’s absolutely no excuse for schemes keeping members in the dark about how their money is managed.
“It’s encouraging to see some new pension providers using social media to connect with their members, not least to demystify pensions jargon but also to conduct regular member surveys.”
