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28th February 2017

sir STEVE WEBB AND GREGG MCCLYMONT join pension quality mark board

The Pension Quality Mark (PQM) has today (Tuesday) announced the appointment of ex Minister of State for Pensions, Sir Steve Webb and ex Shadow Minister of State for Pensions, Gregg McClymont, as Non-Executive Directors to the PQM Board.

Karen McArthur was also appointed to the PQM Board in December 2016. Sir Steve and Gregg bring with them a strong understanding of the at-retirement market, adding to Karen's expertise in consumer focussed business.

Sir Steve is currently the Director of Policy at Royal London. He was Minister of State for Pensions between 2010 and 2015, the longest-serving holder of the post. During that time he implemented major reforms to the State Pension system, oversaw the successful introduction of automatic enrolment and played a key role in the new pension freedoms implemented in April 2015.

Gregg is Aberdeen Asset Management's Head of Retirement and was previously Shadow Minister of State for Pensions between 2011 and 2015 and Member of Parliament for his constituency of Cumbernauld, Kilsyth and Kirkintilloch East from 2010 to 2015. Gregg is currently a Visiting Fellow at Nuffield College, Oxford.

Karen's experience included successfully developing strategic sustainability positions for UK and global companies including Vodafone and Thomson Reuters, driving innovation across the environmental agenda to improve performance. As a founder NED for the Institute for Corporate Responsibility & Sustainability she is committed to promoting standards for the profession and excellence within the wider business community.

Adrian Boulding, Chairman of the Pension Quality Mark (PQM), said:

"The appointment of three highly experienced Board members signifies the increasing influence of PQM and RQM within the industry. All three Board members bring with them a wealth of experience from within government and the private sector, firmly establishing the intention and commitment of all those at PQM and RQM to push up the standards of the industry.

"Our outgoing Board members, Chris Hitchen and Baroness Jeanne Drake, have made an enormous and influential contribution to our organisation - we're very grateful for their committment and expertise."

Sir Steve Webb, Non-Executive Director, PQM, said:

"I've long been an admirer of the work done by Pensions Quality Mark in driving up the standards of the industry. I'm very much looking forward to supporting PQM in its priorities for the next few years including fully embedding RQM into the industry and in its consultation on PQM READY."

Gregg McClymont, Non-Executive Director, PQM, said:

"Since 2009, PQM has been challenging the industry to improve, with great success. I'm enthusiastic to be joining the team and to use my experience to contribute to the development of the industry through both PQM and RQM."

Karen McArthur, Non-Executive Director, PQM, said:

"The necessity for consumers to identify the best in class when it comes to pensions and the products available in retirement, is as important now as it ever has been. Holding a PQM or RQM accreditation means consumers can be confident that the pension scheme they're enrolled on and the at-retirement product they have purchased has been independently ranked as top quality."

Non-Executive Board Members serve three year terms.

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