Tesco group pensions and insurable risk director Ruston Smith has been confirmed as the next chairman of the National Association of Pension Funds.
Smith will succeed current chairman Mark Hyde Harrison, whose two-year tenure ends at the NAPF Annual General Meeting on Friday 18 October 2013. He has held a non-executive role at the NAPF since 2007 and is currently chairman of its Retirement Policy Council.
As group pensions director at Tesco, Smith is responsible for one of the largest private sector pension schemes in the UK, overseeing benefits for over 300,000 members in the UK Pension Scheme and the investment of the £7bn of UK assets managed by Tesco Pension Investment, an internal company.
Before joining Tesco, Smith was a director and company Secretary at PZ Cussons, where he was also responsible for their group pensions. He is an Associate of the Pensions Management Institute, a Fellow of the Institute of Management, and a Governor of the Pensions Policy Institute.
Smith said: “The NAPF is at the heart of the national debate on the future of retirement saving, and I am delighted to be taking on the role of chairman.
“Over the next few years, auto-enrolment will bring millions of people into pensions, and the NAPF will be working hard to ensure the reforms are a success. Good governance and sensible regulation, which protect savers and focus on maximising retirement income, are vital to build confidence in pension saving.”
Hyde Harrison added: “I congratulate Ruston on his appointment. He brings a wealth of knowledge and his experience will be of considerable value. I am confident he will add to the ongoing success of the NAPF and that he will ensure the views of our members continue to be heard in Whitehall, Westminster and Brussels.”
Comments