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Baroness Jeannie Drake CBE and consulting actuary Mark Condron1 have been appointed to The People’s Pension Board of Trustees.
Both joined the Trustee this month, bringing a wealth of expertise and experience to the leading master trust which provides auto-enrolment pensions to one in six workers across the UK.
Baroness Drake is a former member of the Turner Pension Commission which recommended the introduction of auto-enrolment. She was also on the Board of the Pension Protection Fund, the Board of The Pensions Advisory Service, and was Acting Chair of PADA, the forerunner of NEST.
She has more than 30 years’ experience in the trade union movement, including as President of the Trade Union Congress (TUC) and was a member of the Equal Opportunities Commission.
Mark Condron joins the Trustee after 30 years’ experience at Mercer, where he was a scheme actuary, senior partner, and non-executive member of the company’s audit committee. He is also an independent trustee on the Scottish & Newcastle Pension Plan, part of Heineken.
Steve Delo has been re-appointed as Chair of Trustee for a further three years, while Sue Lewis has stepped down after coming to the end of her tenure.
Commenting on the appointments, Trustee Chair, Steve Delo, said:
“I’m delighted to welcome both Baroness Drake and Mark Condron to the Board. They each have top class reputations and will reinforce our high governance standards.
“The Scheme has gone from strength to strength and recruiting quality Trustee Directors with complementary skills is an essential part of managing that growth.
“I’d also like to thank Sue Lewis, who has completed her term having been a tenacious, highly member focused Board member.”
Responding to the announcement, Baroness Drake said:
“Auto-enrolment has been a success in delivering for the public good by getting millions of workers to start saving or saving more. A requirement of continuing success is that pension funds deliver good quality provision to low and middle earners.
“The People’s Pension has grown rapidly in the last few years and I am privileged to join the Trustee board and to contribute to protecting the interests of its nearly 5 million members.”
Commenting on his appointment, Mark Condron said:
“I’m delighted to be appointed as a Trustee of The People’s Pension at this important time. I am joining a great team, completely committed to helping members build better outcomes in retirement.”
Notes to Editor:
The People’s Pension is the second largest master trust (multi-employer pension scheme) in the UK, with almost five million members and more than 90,000 employers signed up.
For further information, contact Blaise Tapp in the press office on 01293205336.