Lancaster firm scoops two Northern Enterprise awards

These awards are given to best-in-class organisations within their sectors, focusing on clients and customers in the north and beyond.

Pensions for Purpose was awarded ‘Most Innovative Pension Funds Training Provider 2023’ and ‘Financial Services Client Service Excellence Award 2023’.

Lancaster resident Karen Shackleton founded Pensions for Purpose in 2017 with the aim of helping pension funds understand investments which value people and planet alongside profit.

These so-called sustainable and impact investments have been growing in popularity over the past few years. Since 2017, the company has grown substantially and there is now a team of 10 staff and three consultants, all of whom work remotely, headed by chief executive Charlotte O’Leary.

Since its start in 2017, Pensions for Purpose has welcomed 385 member organisations and more than 1,200 individuals who receive information about their events and content.

The online platform allows investors to search for content on topics such as affordable housing, renewable energy or biodiversity, with new articles being posted by members every day. Pensions for Purpose also offers its members community discussions, training and research insights, with one of its reports even being tabled in the House of Lords by Baroness Ros Altmann.

Four of the company’s staff are based in the North and Pensions for Purpose was launched in Lancaster. The company has intentionally supported northern pension funds by speaking at local conferences, facilitating workshops for pension funds and running training for northern based institutional investors, in an industry that is predominantly London-based.

When she founded Pensions for Purpose, Karen wanted the company to be supportive of staff who juggle work with home priorities, as she had done when her children were young, so remote-working, and flexible and part-time contracts are common amongst the team.

The company also tries to reflect its mission within its own organisation and offers staff an attractive pension fund which invests purposefully. Because staff work remotely, the environmental impact of the company is minimal, and the female-led management team of Charlotte, Karen and Stephanie Windsor (chief operating officer) fully embrace diversity, equity and inclusion, in an industry that has traditionally been slow to respond to this issue.

In 2023, Pensions for Purpose became a Certified B Corporation. B Corp Certified businesses meet high standards of performance, accountability, and transparency on environmental and social criteria.

Karen Shackleton, founder and chair of Pensions for Purpose, said: “We were delighted to be recognised by SME News with these two Northern Enterprise awards. As a small company, we punch well above our weight in a competitive and demanding industry. This is down to an enormous effort from everyone in the team. We couldn’t ask for a more committed group of people who all work tirelessly towards our goals.”

Charlotte O’Leary, chief executive of Pensions for Purpose, said: “Since joining Pensions for Purpose I’ve been passionate about our purpose. It is so rewarding when you watch a pension fund having a ‘light-bulb moment’, as they begin to appreciate they can invest to generate a decent return for their members, while also achieving a positive impact by tackling environmental concerns and social need.”