Thursday, 30 March 2017

    Jack Jones

    "Political risk is growing'"

    Jack Jones, Editor

    This story is brought to you by Pensions Insight

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    Who’s on the AE review advisory board?

    DWP has announced that Chris Curry, Jamie Jenkins and Ruston Smith will sit on advisory board for 2017 AE review

    The Department for Work and Pensions (DWP) this week announced the appointment of a stellar external advisory group to support the 2017 automatic-enrolment (AE) review.

    The review will weigh up how successful the policy has been so far, and explore ways that it can be further developed. Each of the three chairs appointed will focus on a specific theme looking at how to ensure that workplace pensions continue to meet the needs of individual savers, and employers, while remaining fair, affordable and sustainable for future generations.

    Ruston Smith

    Ruston Smith, trustee director at the People’s Pension, and previously chairman of the Pensions and Lifetime Savings Association (PLSA) will advise on strengthening the engagement of individual members.

    Chris Curry, director of the Pensions Policy Institute, and former senior economist at the Association of British Insurers will help advise on increasing contribution levels.

    Automatic enrolment has been a huge success but there is still significantly more work to do

    Jamie Jenkins, head of pensions strategy at Standard Life will advise on ensuring sufficient coverage so that all who should be saving into a pension are doing so.

    The other members of the advisory group are:

    • Carl Emmerson, deputy director, Institute for Fiscal Studies
    • Jane Vass, head of public policy, Age UK
    • Neil Carberry, director for people and skills, Confederation of British Industry
    • Linda Ellett, partner, KPMG – tax and pensions practice
    • Nigel Stanley, chair, Nest members’ panel
    • Jocelyn Blackwell, trustee director, Now Pensions
    • Judith Hogarth, pensions policy for EEF, the manufacturers’ organisation

    Commenting on the announcement, Richard Harrington, minister for pensions, said: “Automatic enrolment has been a huge success but there is still significantly more work to do if we are to set the next generation on a path to a financially secure retirement.

    “This is why I am delighted to announce this expert advisory group who will work closely with government to look at what we can do to build on our success.”

    The DWP is expected to publish a final report later this year.

    Ruston Smith

    Ruston Smith is group director of people, pensions and insurable risk at Tesco and CEO of Tesco Pension Investment. His other roles include, trustee directorships at People’s Pension and Standard Life and governor of the Pensions Policy Institute. He is also a former chair of the PLSA.

    Jamie Jenkins

    Jamie Jenkins is head of pensions strategy at Standard Life where he previously led the corporate pensions operation. He was heavily involved in the work on the Retail Distribution Review and the resultant changes in sales practices across the industry. He sits on a number of regulatory and trade body councils and advisory groups.

    Chris Curry

    Chris Curry is director of the Pensions Policy Institute. Prior to becoming director at the Pensions Policy Institute, Chris was research director between 2002 and 2013. He was previously senior economist at Association of British Insurers between 2000 and 2002 and an economic adviser at the DWP between 1992 and 2000.

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