Thursday, July 23, 2009

Where is PADA's "Investment Impact Committee"?

This question is promped by the Annual Report of the Personal Accounts Delivery Authority (PADA).

In Appendix A, you will find details of PADA’s Advisory Committees – the "Consumer Representative Committee" (from Age Concern to Which?), the "Scheme Management and Trustee Advisory Committee" (the pensions professional bodies) and the "Employer Representative Committee" (CBI, etc.).

But where is the "Public Interest Committee" or the "Other Stakeholders Committee"? Or even just the "Investment Impact Committee"? For example, although Personal Accounts will become an investor with global impact, there is no representation for the Climate Group, the Ethical Trading Initiative or indeed for the investor relations functions of the businesses whose shares Personal Accounts will hold to pay our future pensions. Some mistake surely?

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