The PMI has chosen to offer Nelu certificate training following The Pension Regulator's recent guidance that it will begin collecting trustee board diversity data by next year. TPR is set to investigate the role board diversity and inclusion efforts play in the governance of pension schemes. Existing data already shows board diversity improves decision-making, leading regulators in many of the world’s largest economies to embrace some form of corporate board diversity initiative.

Nelu launched its Certification Suite in the U.S. and the U.K. earlier this year. It offers organisational ED&I certifications for scheme sponsors and service providers, and individual ED&I certificates in health and retirement benefits. The Nelu Certification Suite has already grown in the U.S. through strategic partnerships and scheme sponsor adoption. The PMI is set to offer Nelu's certificate training in person from June 2023.

Gareth Tancred, Chief Executive of the PMI, comments: "As an industry, we recognise we need to do more to encourage diversity and inclusion. We're launching this new certificate training to help the trustees and scheme administrators respond to this need. Boards whose trustees have different backgrounds and experiences are more likely to encourage debate and make better decisions. It has never been more important for the pensions industry to share ideas and good practices to encourage people from outside typical demographics to get involved with pension fund trusteeship."

Varsha Gicas, Director of Commerce and Engagement at the PMI, comments: “Regulators, scheme sponsors, and members increasingly expect trustee boards to consider diversity, equity, and inclusion as part of scheme administration. A lack of diversity and inclusion could mean a scheme misses out on potential opportunities or can't effectively mitigate risks. We're delighted to partner with Nelu to offer its ED&I certificate training to UK pensions professionals."

Uche Enemchukwu, Nelu’s CEO, a benefits attorney, and former plan sponsor at Boeing, comments: "We wanted to develop an ED&I certificate specifically for pension trustees and those looking to advance their ED&I and ESG strategic objectives through their pension schemes. This training addresses everything from setting board diversity goals, creating inclusive environments for effective dialogue and decision-making, understanding and engaging with all scheme members in the age of auto-enrolment, and implementing ED&I goals as part and parcel of ESG strategic objectives.”