Engagement Opportunities for Pension Fund Beneficiaries
Pension funds play a critical role in safeguarding the retirement security of millions. For these funds to serve their communities effectively, transparency and active participation from both members of the board of trustees and beneficiaries are essential. When beneficiaries have meaningful opportunities to engage, it strengthens governance, builds credibility, and ensures accountability to the people the fund is meant to serve.
Below are six practical engagement opportunities that beneficiary groups can request from their pension fund. While not exhaustive, these ideas are designed to inspire groups to consider which formats and approaches would be most effective and accessible for their own needs.
Informational Hearings
Request an informational hearing with representatives of the pension fund’s Board. These sessions can provide an overview of the fund’s policies and risk management strategies. Hearings might feature one or several board members or even a panel, including pension staff and beneficiary representatives, ensuring a diversity of perspectives and voices.
Training and Educational Briefings
Organize training sessions or educational briefings tailored to the concerns and interests of beneficiaries. These sessions can demystify the pension system and clarify how the fund:
Assesses and manages risk
Makes investment decisions
Select managers or consultants
Oversees proxy voting
Participates in shareholder campaigns and corporate engagement
By building understanding, beneficiaries can become more informed advocates for the fund’s long-term health.
Roundtable Discussions with Union Leaders
Facilitate roundtable discussions that bring together pension staff, board members, and representatives from key public labor groups. These forums provide space to discuss:
The status and prospects of policy improvements
Strategies for managing risks, such as those associated with climate change
The fund’s overall long-term health
Such discussions foster networks of engaged worker voices, promote transparency and help the fund communicate more effectively with its stakeholders.
Beneficiary Leader Meetings
Encourage the fund’s leaders to hold a series of meetings, specifically with beneficiary leaders. Unlike broader roundtables, these meetings can be tailored to the unique needs and perspectives of specific unions or stakeholder groups, ensuring that all voices are heard.
Presentations at Union Coalition Meetings
Ask fund leaders to attend existing union coalition meetings and take questions directly from members. Meeting beneficiaries where they already gather can boost participation and engagement. Additionally, inviting Policy or Communications staff to these meetings can help coordinate more effective input on policy and public communications.
Surveys of Beneficiary Networks
Conduct surveys among beneficiary networks to gather feedback on the following:
Questions and concerns about risk management
Interests and priorities regarding fund policies
Perceptions of the fund’s communication and decision-making
Survey results can provide the board with a clearer understanding of beneficiary sentiment and help inform future policy and communication strategies.
Empowering beneficiaries to engage with their pension fund is essential for building trust and ensuring the fund’s long-term success. Adopting some or all of these engagement strategies can support beneficiary groups to play a proactive role in shaping the future of their retirement security.
If you’re interested in additional guidance and hands-on tools for strategy and organizing, check out Organizing to Build Power in our Investing in Our Future Guide.
