14 April 2020
“Scottish Widows has appointed Andrew Warwick-Thompson, one of the pension industry’s most experienced leaders, as the new Chair of its master trust. Former Executive Director for Regulatory Policy at The Pensions Regulator, Andrew takes the helm following eight successful years of leadership from current Chair, Kim Nash. Kim is also a founding trustee of the Board and will remain on the Board to support members and provide continuity to Andrew as the new Chair.
Andrew’s appointment, representing Capital Cranfield Pension Trustees Limited, was made following the insurer’s five-yearly review of its trustee board for corporate trustees. Scottish Widows undertakes comprehensive and transparent reviews of its master trust to ensure it continues to deliver the best outcome for customers and it grows, evolves, and enhances its offering.
Andrew said: “I’m looking forward to working with the Scottish Widows team and excited about the master trust’s potential. As Chair of the trustee board I will be working hard with my co-trustees to enhance the master trust’s offering and, most importantly, help members to achieve good retirement outcomes.” Jackie Leiper, Workplace Savings and Distribution Director at Scottish Widows, said: “Kim has made a hugely valuable contribution to the Board over the last eight years. We thank her for her dedication and commitment and are very pleased that she will remain on the Board.
“We’re pleased to be working with Andrew as we approach the next chapter of our master trust, not only the value we will gain from his extensive expertise, but also the pragmatic and collegiate approach he takes to his work.”
Scottish Widows received authorisation for its Master Trust in 2019 from The Pension Regulator and is a key element of its workplace pension savings business, which currently manages c. £60bn assets for around 3.3m members. Scottish Widows and the trustees review the on-going suitability of its default investment strategy, considering membership and the analysis of its own members, together with industry wide research in respect of member choices at retirement.
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