The People’s Pension, the UK’s largest commercial master trust, today underlined its commitment to strong governance and stability by announcing that its Chair of Trustees, Mark Condron, will remain in post for a further five years.
The announcement of his new five-year term follows three years at the helm of the Board of Trustees, which he first joined in 2020. In Mark’s time as Chair, The People’s Pension, has become one of the country’s fastest growing asset owners and is projected to have reached £60 billion in assets under management by the end of 2030.
Mark’s reappointment comes at a pivotal time for workplace pension schemes which includes the Government focus on encouraging Funds to invest in private markets, including in the UK, and the impending introduction of Value for Money metrics. Earlier this year The People’s Pension announced that it planned to invest £4bn, or 10 per cent of its growth pool assets, in private markets with substantial proportion focused on the UK, if assets are available that meet the return requirements.
In February, the Scheme also announced that it was appointing a further two asset managers, Amundi and Invesco, to manage £28bn of its rapidly growing portfolio.
Commenting on his reappointment, Mark said:
“I’m delighted to be asked to Chair for an extended five-year term and am fully committed to helping the Scheme continue its remarkable journey as one of the fastest growing asset owners in the UK. It’s an exciting time for our seven million members as pension funds are continuing to play an increased role in the financial futures of both workers and the nation as a whole.”
Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, which provides The People’s Pension, said:
“It’s fantastic news that Mark has agreed to continue to serve as Chair of Trustees – he is exactly the right person to be chairing The People’s Pension into the next exciting stage of its journey. Strong governance lays at the heart of all good pension schemes, which is why it’s so important that Mark will lead the Trustees for the next five years, a period which promises to be hugely significant.”
During his career Mark has held a wide range of senior positions with responsibility for pensions advisory and administration businesses. He is a Fellow of the Institute and Faculty of Actuaries and an Accredited Professional Pension Trustee.
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