Zarah ChoudharyThe Pensions Regulator (TPR) has published its Diversity Pay Gap report, providing data and analysis on its gender, disability, ethnicity and sexual orientation pay gaps.
The report showed TPR’s mean and median gender pay gaps are below 10% and continue to compare favourably with the wider civil service.
However, TPR said it recognised it had work to do to reach its ambitious gender pay gap target of 2%.
TPR has developed an action plan to address all its pay gaps, with specific attention to its ethnicity and sexual orientation pay gaps, which continue to be above 10%.
TPR has voluntarily published additional pay gap data for ethnicity, disability and sexual orientation.
Andrew Baigent, chief operating officer at TPR, said: “As an employer, we want all our people to be valued in an environment where they can give their best.
“As a regulator, our aim is to make workplace pensions work for all savers.
“We want our commitment to high standards of equality, diversity and inclusion to inspire employers and trustees to think about what they can do.
“This means having the right mix of skills and diversity of thought at trustee boards.
“To support this, we have published EDI guidance for both pension scheme governing bodies and employers.”
As the report is based on data as of 31st March 2024, TPR added it expects changes in senior leadership and other actions undertaken after this date to have an impact on its gaps, although this will only be seen in future reports.
Public sector employers must publish their gender pay gap data by 30th March, 2025.
