There is robust and extensive evidence showing that teams which are both more diverse and more inclusive make better decisions and achieve better financial outcomes.
The pensions industry is starting to realise the value of diversity and inclusion in pension scheme trustee boards and beyond in order to support the best possible member outcomes.
At a time when trustee decision making, for both defined benefit and defined contribution schemes, is under more scrutiny than ever before, ensuring boards and committees are diverse and inclusive could give trustees an extra layer of reassurance that they are fit to meet the challenges their schemes face.
There is no ‘one-size-fits-all’ solution to diversity issues, but our experts can work with you to discuss how best to achieve greater D&I and the advantages of doing so for all pension scheme stakeholders.
Some of our networks
Amongst our people we undertake extensive work to support better outcomes on D&I in a range of different areas, including:
- Member of the Network Group for the All Party Parliamentary Group on Global LGBT+ Rights.
- Member of the PLSA’s Diversity External Advisory Board.
- Founding members of the newly-established pensions industry LGBTQ+ network group, O:pen.
- Chairing the SPP Council’s sub-committee on Diversity and Inclusion.
- Members of the Pensions Regulator’s (TPR) D&I Working Group and co-chairing the Standards/Best practice/Board composition sub-group.
- The highest-ranked private practice lawyer in OUTstanding’s 2020 worldwide 100 LGBT+ Executives list, having been featured in the list for a fifth consecutive year.
- Founding member of The Alliance, an LGBTQ+ executive network convened by McKinsey.
About our practice
At Travers Smith we value the fact that each one of us is different. Gender, ethnicity, disability, age, sexual orientation, gender identity and faith contribute to this diversity, as does background, education, working style and family or care responsibilities. We’re committed to leveraging these differences to achieve better results and so better serve our clients and communities. We’re also convinced that creating an inclusive environment where all our people feel valued and able to bring their differences to work every day creates a more stimulating and rewarding environment in which to work. This is reflected in Travers Smith being ranked 12th in Stonewall’s Top 100 Employers list in 2020, as well as being rated a Top Trans Employer.
Members of our Pensions team provide pro bono legal advice for a range of charities which champion in the Diversity and Inclusion sector, including Stonewall, Series Q and Colours Cayman, as well as supporting several charities, with a particular interest in youth work and sitting on the board of young person's homelessness charity City YMCA London, consulting for Brighter Futures Zambia, an education and social development project for children affected by AIDS/HIV in Southern Africa, as well as being a chair of trustee of Just Like Us (an LGBT+ charity for young people) and, more recently, being appointed to LGBTQI charity GiveOut's Board of Trustees. We also devised and co-launched a mentoring programme with Just Like Us, which we have been co-running for the past five years. The programme provides LGBTQ+ students and graduates with skills and support as they transition into employment. The team played a central role in the establishment of Refugees at Home, which provided nearly 185,000 nights of free accommodation for refugees and asylum seekers since its establishment in 2015. We continue to provide extensive pro bono legal advice and serve on the board.
Several of our team joined the Pensions Regulator's EDI Industry Working Group and we co-chaired the Standards, Best practice, and Board composition sub-group. We were instrumental in shaping the overall policy approach, and contributed to much of the published guidance. This built on our work co-authoring the PLSA Diversity and Inclusion Made Simple Guide and our role in setting up O:pen – the new Pensions industry network for LGBTQ+ professionals and their allies.
