The theme for this year’s Black History Month is ‘Reclaiming Narratives’. This aims to highlight Black stories and history, as well as correcting narratives that are inaccurate. An important sentiment here is to challenge the versions of stories that overlook the impact that black individuals have made and acknowledge these inspirational individuals.

In our Black History Month blog last year, we discussed the inequalities when it comes to pensions and minorities. We also explored what we could do to help. This year we want to highlight a black owned and created support hub where you can get further support.

Black Girl Finance (This link opens in a new window) was first created to fill the gap in personal development for black women by producing financial literacy information that’s engaging and catered to their audience. They’ve now developed into a space where people can get financial coaching, planning and regulated financial advice. Black Girl Finance recognised that there was a lack of access and opportunities for their audience when it came to financial education and have now started to shift that narrative to make positive changes in people’s lives.

Research by Scottish Widows (This link opens in a new window) has shown that 30% of black women plan to reduce working hours, instead of fully retiring. Black women are opting out of pension schemes they don’t think they can afford and that 52% of black women share concerns of running out of money in retirement. Spaces like Black Girl Finance are important to break down barriers and not only address the disparities but work to find solutions to challenge the current narrative.

We’re always aiming for our members to become engaged with their pension so that they can take charge of their financial planning. Inspired by the theme for this year’s Black History Month, we’d like to hear your stories and ideas about how we can make engaging with your pension a more inclusive experience. We run regular discussion groups and would welcome your input, please email us at engagement@teacherspensions.co.uk.

We’d love to hear from you!