Marloes Nicholls

💥BREAKING💥 Four young Canadians just launched a lawsuit against the Canada Pension Plan investment manager, #CPP Investments, for alleged mismanagement of climate risks.

Read more about the case brought by @ecojusticecanada.bsky.social and @gpllp.bsky.social

👉 bit.ly/4okNn1i

Millions more could benefit as govt moves forward with CDC expansion The Department for Work and Pensions said millions will benefit from new regulations on collective defined contribution pension schemes.

2/2 This afternoon Pensions Minister @torstenbell.bsky.social announced supportive new regulation and consultation. He also revealed significant interest from employers and schemes 👀 There’s more to finesse - but multi stakeholder energy to make it happen.
www.ftadviser.com/pensions/202...

1/2 Collective pensions for millions of UK workers felt closer to a reality today.

‘CDC’ promises an “income for life”, higher average incomes (25-65%!), and greater investment for the UK - all particularly important for people on low incomes and facing hardship in retirement.

Sue Owen asked what her pension savings are being invested in - and was horrified.
Ep. 3 of this brilliant new podcast explains how the pensions industry continues to fuel the climate crisis. But you can write to your MP today to call for Government action actionnetwork.org/letters/writ...

Gender gap means retired women ‘have four months a year with no pension’ Income inequality means women in effect stop receiving a pension from 21 August, union leaders say

🚨 Prospect research reveals women lose out on £7,600 a year in retirement.

A 36.5% gender pension gap – that's double the gender pay gap.

This inequality is unacceptable. Government must take real action now to close the gap.

Lab Statement: Launch of a new Pensions Commission - Finance Innovation Lab In response to the announcement that the government are launching a new Pensions Commission to examine the reasons why so many people are facing the prospect of poverty in retirement and to make…

The new Pensions Commission must tackle the inequality at the heart of the UK’s pension system.
~2/3rds of pension wealth is held by the richest 10%, while millions face hardship in retirement.
Read our statement from @marloesnicholls.bsky.social, Head of Advocacy: filab.uk/46YlcPU

We’re excited to launch our new report on the gender wealth gap — examining the scale of inequality and the role wealth taxation could play in addressing it. Wealth inequality is wider than income inequality — and deeply gendered.

Read it here: 👇
www.wbg.org.uk/publication/...

The Pension Schemes Bill is a critical chance for the government to protect our savings and retirements from the risks of climate change.

Read our proposal: www.netzeroinvestor.net/news-and-vie...

Why are our pensions being used to fund fossil fuels and deforestation to the tune of billions of pounds, threatening our prosperity in older age and indeed our savings?

Today @annagelderdmp.bsky.social‬ rightly asked the government what the new Pension Schemes Bill would do to change this.

We can't retire if the planet's on fire.

It was fantastic to kick start a debate in parliament this week, with partners across civil society and industry, on the major opportunity the government has to align its landmark pension reforms with sustainability.

DC pensions are like savings accounts which makes it harder for funds to take risk Defined contribution pensions operate more like a savings account meaning funds are wary of taking higher risks with investments, MPs were told.

Current defined contribution schemes work like savings accounts and leave too many with insufficient pensions. Our CEO @jesselgriffiths.bsky.social‬ was in parliament last week discussing new proposals for pensions.

📢 With @thefinancelab.bsky.social, we're calling on the UK Govt to transform the pensions system.

The system should support everyone to save for a financially secure retirement. Right now, that's not happening.

The UK Govt must reform the system to ensure we all have enough to live on in older age

It was fantastic to meet with officials leading the government’s landmark Pensions Review this afternoon, together with inspiring civil society and union colleagues. We're advocating to ensure that as we get older, we all have enough money and a thriving planet to live on.

Civil society organisations, unions, and a host of celebrities have joined forces to call on the government to fix the UK’s pensions system.

Here’s my comment for PensionsAge

www.pensionsage.com/pa/New-campa...

Promotional image urging people to sign a petition for fairer and greener pensions. The background features a blue gradient with wind turbines, and the text reads: 'Tell Pensions Minister Torsten Bell WE DEMAND FAIRER GREENER PENSIONS FOR EVERYONE.' There is a blurred-out face of a person in a suit on the right side. At the bottom, there is a button that says 'SIGN THE PETITION.' Photo credit: Roger Harris, CC BY 3.0 via Wikimedia Commons.

The biggest review of the pensions system in a generation is underway. Sign the petition for:

💷 Decent pensions for all
☀️ A just transition to a thriving low-carbon economy
🚫 A phase-out of funding for fossil fuels, deforestation & other harmful industries

✍️ act.350.org/sign/fairer-...

Big opportunity for the government to shape pensions policy for decades to come.

Vital that they show plenty of ambition.

The Lab’s @JesseLGriffiths explains how the key to tackling the UK’s under-investment problem and driving the just transition will be pensions reform allied to a scaled-up National Wealth Fund ⬇️ @netzeroinvestor
www.netzeroinvestor.net/news-and-vie...

At the end of a slightly terrifying week, where a major financial crisis was averted – for now – I thought I’d reflect on whether such a crisis might happen anyway, and what this means for UK financial sector policy.

A thread.
/1

The Chancellor's megafunds won't fix our slow-burn pensions crisis: far bigger reform is needed - Finance Innovation Lab This article was written by CEO Jesse Griffiths. It first appeared on LBC, it can be read here. Low pension savings and growing economic threats from climate change mean most people face miserable ret...

Here’s a bit of background: financeinnovationlab.org/the-chancell...

Great to be part of the @tuc.org.uk pensions conference today!
I asked Torsten Bell why the government’s once-in-a-generation Pensions Review doesn’t consider the climate crisis when that could have far greater implications for growth + future pensions than proposals like consolidation

National wealth fund could raise £100bn by issuing its own bonds NEF analysis suggests the fund could raise £14 of private investment for every £1 of public money spent

Find out more here: neweconomics.org/2024/10/nati... @neweconomics.bsky.social @chaitanyakumar.bsky.social @theoharris.bsky.social

Before we close our doors on Friday, we wanted to share some fantastic organisations we've worked with. Follow them for more 💚​

🌱 @thefinancelab.bsky.social
🔥 @fossilfreeldn.bsky.social
💰 @bankgreen.bsky.social
👀 @globalwitness.bsky.social ​
🗳️ @shareaction.bsky.social
✊ @tippingpointuk.bsky.social

🚨 NEWS: we've updated our climate ranking of the biggest UK pension providers 🚨​

There's been pockets of progress but the average score is shockingly low at 4.5/10 🤯We need pension providers to do better. ​

They're looking after OUR money. It's our future they're risking. ​

‘Let’s not forget the pain of the 2008 crisis in pursuit of growth,’ warns Andrew Bailey Bank of England governor says there is ‘no trade-off’ between economic growth and financial stability

"We must not forget the lasting damage done by the global financial crisis."

There is no growth in an economy so poorly regulated that it crashes.

It's reassuring to see the Bank of England governor knows this.

www.theguardian.com/business/202...

Last year, the government committed to a landmark Pensions Review - the first opportunity in two decades to overhaul the £3 trillion private pension system.

🤔 So what does this mean for the divestment movement?

👇👇

The UK's looming pensions crisis can't be solved by individual actions alone. If we're to retire with decent incomes on a liveable planet, the government must ambitiously progress the 'Pensions Review' (the first opportunity to overhaul the system in 20 years). Please could you raise this too?

'Widespread disappointment' over pension review delay The pensions industry has expressed its disappointment at the news of a potential delay to the second phase of the government's Pension Review, with particular concerns raised over the impact on auto-...

Widespread disappointment over pension review delay reported in PensionsAge www.pensionsage.com/pa/Pensions-...

White text on a grey background: It's extremely worrying that the Chancellor appears to be stepping back from Labour's promise to fix the UK's broken pensions system. As things stand, millions of us are going to be facing poverty in retirement. The Pensions Review is a once-in-a-generation opportunity to stop the UK from sleepwalking into this crisis. There will never be an easy time to overhaul the system, but kicking the can down the road now is simply irresponsible.

The Chancellor has postponed a vital review of the UK’s broken pensions system.
www.ft.com/content/d102...

Our Head of Advocacy, @marloesnicholls.bsky.social, responds ⬇️

We're thrilled to announce that Marloes Nicholls, Head of Policy & Advocacy @thefinancelab.bsky.social, is our guest speaker at our workshop tomorrow for Developing & Testing Messaging to Influence Public & Elites

Register now to hear her valuable insights!

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