PLSA to expand policy board expertise

The policy board is responsible for the PLSA’s policy positions, though it can — and does — delegate decision-making to various committees. 

It is looking to make four appointments to the policy board, having added John Chilman, chief executive of Railpen, as the new chair in October 2021. The board will ultimately comprise between 15 and 20 members, and the PLSA is particularly keen to add members from the defined benefit, defined contribution, Local Government Pension Scheme and master trust sectors.

The PLSA is also looking to recruit business members with experience in benefits consulting and pensions law.

The policy board’s first meeting of 2022 will take place in March, and there will be a further three meetings throughout the year. Its focus will be on pensions dashboards, investment and stewardship, as well as DB funding, DC decumulation and LGPS issues.

The policy committees will meet three times, while members will be consulted in writing on policy issues between the formal gatherings.

The PLSA’s ultimate aim is to recruit up to 20 members across four committees, each focused on one of the key areas outlined.

The deadline for applications is January 31, and appointments are typically for three-year terms.

Chilman said: “The policy board is an important and influential body which plays a crucial role in setting the PLSA’s policy agenda and positions, ensuring the PLSA is tackling the issues that matter most to our members.

“Over the past 12 months, the PLSA’s policy work has helped set out the views of the industry. This included explaining to the Treasury why a reform of pensions tax relief would result in more big losers than big winners, how our Guided Retirement Income Choices framework could support DC savers at retirement, and providing guidance to the industry on new regulatory requirements on Task Force on Climate-related Financial Disclosures and pensions dashboards.”

The PLSA also published responses to 48 government consultations, he added.

“It is therefore vital that this work continues, and to do this we must recruit skilled people from a range of pension backgrounds to ensure the PLSA fulfils its role of ensuring our members’ views — and those of their savers — are heard by decision-makers on key retirement income issues.”