The Pension Quality Mark (PQM) has strengthened its board by appointing former pensions minister Sir Steve Webb as a non-executive director.
Webb is not the only new face on the board. PQM also welcomes ex-shadow pensions minister Gregg McClymont, who also takes a seat as a non-exec. They replace Chris Hitchen and Baroness Jeanne Drake, who have completed their three-year terms.
Webb, currently policy director at Royal London, is the UK’s longest serving pensions minister. He held the role for five years until 2015, introducing auto-enrolment and helping to implement the pension freedoms policy.
Former Labour MP McClymont was Webb’s opposite number for four years. He is currently Aberdeen Asset Management’s head of retirement.
Webb said he admires the work Pensions Quality Mark is doing to drive up the industry’s standards. “I’m very much looking forward to supporting PQM in its priorities for the next few years including fully embedding RQM [Retirement Quality Mark] into the industry and in its consultation on PQM READY,” he added.
McClymont said that his experience will contribute to PQM’s work in developing the pensions industry.
Webb and McClymont join the board two months after Karen McArthur took a seat as non-executive director. She has worked in sustainability at several companies, including Vodafone and Thomson Reuters.
