PensionBee partners with Legal & General to introduce climate-friendly pensions

Jasper Martens

by , Chief Marketing Officer

18 Oct 2017 /  

Oct 2017

PensionBee partners with Legal & General to introduce climate-friendly pensions

PensionBee, a leading online pension manager, has introduced a new climate-conscious online pension plan managed by Legal & General Investment Management (LGIM).

The PensionBee Future World Plan carries reduced exposure to carbon-intensive companies, and invests in businesses around the world generating revenue from low-carbon activities.

This introduction was driven by PensionBee’s 50,000 customers asking for ways to invest their money more sustainably. Research by the company indicated that 20% of its customer base would switch into the new plan once introduced. PensionBee’s average customer is 38 years old and the company offers pensions across the age spectrum, including for over 55s seeking drawdown solutions.

PensionBee selected the Legal & General Future World Fund because it offers savers the opportunity to invest responsibility with a strategy that also aims to deliver enhanced returns compared to traditional index trackers.

Romi Savova, CEO of PensionBee commented: “Customers want to invest responsibly but without sacrificing their pension. The PensionBee Future World Plan puts the planet first, while keeping your pension savings on track.”

The PensionBee Future World Plan is an alternative index tracker that includes companies based on four measures: value, quality, low volatility and size.

The fund then reduces its exposure to companies with high oil, gas and coal reserves and those with worse-than-average carbon emissions, while increasing its exposure to companies generating revenue from green sources.

The fund manager actively engages with companies the fund invests in to drive positive change. Companies that fail to reform their practices may be excluded altogether from the Future World Fund. It is this proactive approach that appealed to PensionBee, which has been striving to change the world of pensions, including through its Robin Hood campaigns that rank pension providers on fairness.

CEO Romi Savova added: “Environmental issues are at the front of people’s minds and this doesn’t stop at everyday purchases. In finance, investing green is more popular than ever. Introducing our new Future World Plan provides the powerful message that polluting companies have to step up their game, and move to a low-carbon economy.”

Emma Douglas, Head of DC Solutions at Legal & General Investment Management commented: “We are very pleased that PensionBee has chosen to include the Legal & General Future World Fund as part of its proposition. We’ve seen a marked change in attitude from savers who want to use their pension to help create the future they want to retire in. With impact on the earth’s climate becoming an ever more important concern, they want to invest responsibly and protect their money from such risk while not compromising on fund performance. The Future World Fund has been developed with such investors in mind, incorporating a climate ‘tilt’ to address the investment risks associated with climate change without sacrificing returns.”

The plan is available from October 12th through to new and existing customers.

For more information, please contact:

Jasper Martens or Mark James
020 3859 5788
[email protected]


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