Ensuring fair access to all
“Railpen provides an exceptionally connected approach to inclusion for both members and employees and has integrated their diversity work to support a very comprehensive offer all parties in their work as investors” judge’s comment
WINNER
Country |
United Kingdom |
Type |
Hybrid multi-employer pension fund |
Members |
96,597 active |
Assets |
€38,624.6m |
Performance |
-8.4% (1yr) |
●Integration of inclusivity, diversity and equity in all aspects of its business is now fundamental to Railpen’s objectives, from how it invests and interacts with its members to its internal teams and how it builds them.
●Alongside major institutional investors, Railpen launched new the Workforce Directors Guidance to improve the diversity of boards at portfolio companies they invest in. Its Worthwhile Workforce Reporting guidance, produced alongside the High Pay Centre, the CIPD, the PLSA and Board Intelligence, is its view of what constitutes good workforce reporting and is a valuable tool for engagement and discussion on equality, diversity and inclusion reporting best practice.
●Railpen’s expectations on gender diversity apply equally to all companies it invests in, regardless of their size. Where diversity levels do not meet its expectations, it engages with companies to encourage the disclosure of specific targets, action taken to achieve them and efforts to enhance their levels of diversity
● As part of its vulnerable customer strategy, which seeks to support members who may have hearing or visual impairments, physical disabilities or mental health issues, Railpen has implemented an accessibility toolbar on participant websites and introduced a virtual assistant to support members’ diverse needs. Members can request communications in different formats, such as large-print, and access audio versions of pensioner newsletters on YouTube.
● Railpen’s work aligns with the Trustee’s focus on diversity, with equality, diversity and inclusion now integrated into policies and procedures, service procurement, member communications, scheme rule changes and governance arrangements for the Trustee Board and its Committees.
● Railpen’s Reward Framework is used to ensure salary and target bonus elements for employees are competitive, fair and comparative with competitors and this is helping it close is gender pay gap. In addition, It actively seeks out opportunities to increase the representation of talent from diverse backgrounds and ensure its selection and promotion process is fair to all. It aims to build a diverse and wide talent pool.
STRATEGIC TAKEAWAYS
➤ Extensive policy to ensure diversity of investee companies |
➤ MEnhanced online facilities to ensure wide-ranging accessibility for members |
➤ Highly developed internal equality, diversity and inclusion policy |
HIGHLY COMMENDED
AG2R La Mondiale pursues an active gender equality policy based on four priority areas: recruitment to ensure equal treatment of applications; training and promotion to ensure that women and men benefit from the same opportunities for professional development, career development and access to positions of responsibility; and remuneration to guarantee the principles of equality throughout their careers. In 2022, it also set up a young executive committee made up of 16 members, eight women and eight men, under the age of 40 to ensure the ideas and needs of younger employees are heard.
Country |
Sweden |
Assets |
€41,260m |
Performance |
-11.9% (1yr) |
Fjärde AP-fonden (AP4) believes that diversity within an organisation, such as competence, experience and personal characteristics will contribute to better overall results for the organisation. This belief is reflected in its corporate culture and how it recruits and develops its employees as well as how it nominates and appoints board members in its role as a shareholder. Thus, AP4 has been successful in both increasing the gender diversity on the boards of the companies it invests in as well as in in recruiting its internal investment professionals.
Judged by
Inmaculada Dominguez
Fabian Chandran Fernando
Sarah Maynard
Seda Peksevim
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