The UK’s Pensions Minister has recently announced a prioritization of the Moneyhelper Dashboard launch, with a further delay to the launch of commercial dashboards.
Becky O’Connor, Director of Public Affairs of PensionBee, commented that while it’s encouraging to see the UK Government’s continued commitment to the Pensions Dashboards project, it has been “beset by difficulties and delays from the get-go.”
Meanwhile, Becky from PensionBee said that they now estimate that “50 billion pounds of hard-earned pension wealth is at risk of being misplaced in abandoned accounts or scattered across multiple lost pension pots.”
According to the update shared by Becky from UK’s PensionBee, an online pension provider serving the United Kingdom, it’s now vital for the European nation’s millions of pension savers that this service becomes “a reality to help make retirement planning easier.”
As stated in the update, PensionBee is a member of the Pension Dashboard Program.
As clarified by the team, this is considered to be an “independent” comment from PensionBee and does not reflect the views of the Pensions Dashboards Steering Group.
As covered recently, PensionBee, a global enabler of the consumer retirement market, has reportedly achieved its highest-ever environmental, social, and governance (ESG) rating from EthiFinance, scoring 86/100 in their latest assessment report.
The EthiFinance ESG Ratings, which aim to effectively evaluate firms on a scale from 0 to 100, provide an extensive assessment of performance “across four key pillars” – which include the following: Environment, Social, Governance, as well as External Stakeholders.
This recent report has reportedly seen PensionBee increase its scores in three of the four groups, receiving “full marks” in the environment category.
EthiFinance’s “rigorous” rating framework is said to be based on around 140 different criteria, updated annually to reflect evolving ESG risks and sectoral challenges.
The 2024 score has been determined via a “meticulous” five-step evaluation process, which included the collection as well as the verification of public ESG data from the last 3 years, ongoing dialogue/discussions with PensionBee in order to clarify data, and a “thorough review to ensure consistency.”
Clare Reilly, Chief Engagement Officer at PensionBee, said that they are pleased to see their continuous efforts in advancing “sustainability” along with more “responsible” business practices recognized in this year’s EthiFinance report.
Reilly added that achieving an ESG score of 86 reflects their determination to enhance year-on-year and underlines their dedication to creating “long-term value” for customers and the planet.
Reilly also noted that they stay committed to driving “positive impact” as well as transparency across every aspect of the business.