Pensions UK has appointed Philip Brown as its new head of defined contribution (DC) and master trusts to lead the trade body’s work on this growing area of the pensions industry.
Brown joins from Nest, where he was the master trust’s director of policy. He has also worked at People’s Partnership as director of policy and external affairs, and has more than 20 years of experience in policy, insurance, and technology across financial services.
He currently sits on Pensions UK’s policy board, which oversees the trade body’s policy priorities and approaches. He is also a member of the master trust committee, a 13-strong group of provider representatives that decides upon Pensions UK’s approach to master trust-related policy.
Brown’s appointment comes as the DC sector faces major changes through the Pension Schemes Bill.
The government wants default investment strategies to reach at least £25bn in size and to allocate more to domestic investments, including private markets.
At the same time, the Value for Money reforms – currently being developed by the Financial Conduct Authority and the Pensions Regulator – are set to introduce regular scrutiny of master trusts’ investment returns, costs, and customer service.
