The Pensions and Lifetime Savings Association (PLSA) has commented on The Purpose of Asset Management paper, published by Pension Insurance Corporation.
Caroline Escott, Policy Lead for Investment and Defined Benefit at the Pensions and Lifetime Savings Association, and who contributed a response to the report, commented:
“The Purpose of Asset Management report, sponsored by Pension Insurance Corporation, represents a valuable contribution to the important debate around the objectives of the industry and how well it is structured to deliver for the millions of individuals who depend upon the sector for a decent income in retirement.
“As long-term investors, pension funds have a responsibility to use their influence to ensure an asset management sector which understands not just the role it plays in managing people’s investments but also its long-term impact on society and the economy. Doing so – and being seen to do so – is a vital step to boosting savers’ trust in the investment industry and a key way to encourage consumer engagement with their pensions.
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