A new consultancy, Mindful Pensions, has been launched in an effort to bring the benefits of mindfulness to the pensions industry.

The new consultancy will aim to help organisations embrace mindfulness with a view to improving staff wellbeing, reducing stress, increasing productivity, and ultimately helping the industry make better decisions for the benefit of pension savers.

It was launched by David Butcher, a fully accredited pensions trustee and mindfulness coach with more than 40 years’ experience in the pensions sector.

Commenting on the launch, Butcher argued that the impact that stress has on productivity and wellbeing is well documented, and the numbers “staggering”.

“Figures suggest that 76 per cent of employees feel moderate to high levels of stress which is worrying as a worried workforce can’t be a productive or resilient workforce,” he continued.

“We also know that stress costs UK PLC over £5bn annually and causes over 15 million lost days of work. And with 79 per cent of UK employees experiencing burnout, and 35 per cent reporting extreme levels of burnout it’s clear that the time for action is now.”

Butcher added: “The fundamental problem is that we all tend to lack awareness in the present moment, raking over the past in our minds, fretting endlessly about the future and wasting huge amounts of energy in the process. Mindfulness is about releasing all that energy by being in the present moment.

“In setting up Mindful Pensions and blending my mindfulness experience with my experience of holding senior pensions industry roles, I hope to do my bit in helping the industry be a healthier, more fulfilling and more productive place to work – ultimately making a positive difference to millions of savers.”