The Pensions Regulator (TPR) has reported a 13.1% mean sexual orientation pay gap, up from 12% in 2023.
The organisation’s median sexual orientation pay gap was 11.6%, down from 13% in 2023. Its mean sexual orientation bonus gap was 9.4%, up from 5.2% in 2023, and its median sexual orientation bonus gap was -0.4%, unchanged from the year prior. A total of 47.8% of heterosexual employees received a bonus that year, unchanged from the previous year, and 40.3% of LGB+ staff received a bonus, up from 38.6% previously.
TPR’s mean ethnicity pay gap for 2024 was 14.4%, down from 14.9% the previous year, and its median ethnicity pay gap was 11.6%, up from 10.3% in 202. Its mean ethnicity bonus gap was 8.7%, down from 9.8% in 2023, and its median ethnicity pay gap stood at -16%, compared to -13.3% previously. A total of 48.3% of white and 33% of ethnic minority employees received a bonus that year, compared to 48.1% and 31.6% in 2023 respectively.
The regulator’s mean disability pay gap was -2.6%, compared to -1.9% in 2023, and its median disability pay gap was -1.5%, a slight change from -1.3% previously. Its mean disability bonus gap was -17.3%, compared to -23.7% in 2023, and its median disability bonus gap was -34.8%, versus -39.3% the year prior. A total of 43.9% of disabled and 48.2% of non-disabled employees received a bonus that year, compared to 42.5% and 48.2% in 2023 respectively.
TPR’s 2024 mean gender pay gap was 3.9%, up from 3.2% in 2023, and its median gender pay gap was 8.4%, up from 5.7%. Its mean gender bonus gap was 8.8%, down from 11.5% in 2023, and its median gender bonus gap was 14.5%, down from 18.8% the year prior. A total of 37% of male and 40.2% of female employees received a bonus that year, compared to 38.7% and 45.2% in 2023 respectively.
Andrew Baigent, chief operating officer at TPR, said: “As an employer, we want all our people to be valued in an environment where they can give their best. We want our commitment to high standards of equality, diversity and inclusion to inspire employers and trustees to think about what they can do. This means having the right mix of skills and diversity of thought at trustee boards. To support this, we have published equality, diversity and inclusion guidance for both pension scheme governing bodies and employers.”
