As it celebrates 80 years of providing greater financial security to people across the UK, the leading workplace pension provider, People’s Partnership1, appoints life and pensions expert Jim Islam as its new Chair of Board.
The not-for-profit organisation provides a range of straightforward and accessible financial products, including The People’s Pension to more than 6 million people across the UK. With more than £18bn assets under management and serving around 100,000 employers across all sectors, it has grown to become one of the biggest pension schemes in the country.
Jim has been part of the Board since 2018 and will take up his new position on 1 January 2023. He succeeds Babloo Ramamurthy who is stepping down after nearly a decade in the role, overseeing much success including the launch and growth of The People’s Pension.
A qualified actuary, Jim has extensive board level leadership experience in insurance, investment management, and life and pensions sectors, and has held senior finance and general management roles at a number of organisations.
Commenting on his appointment he said:
“It’s a real honour to be appointed Chair of Board for an organisation with such a rich heritage, helping millions of people across the UK become financially stronger. I’m eager to continue building on the great success that Babloo has had over the past decade, ensuring that, as we grow, we continue providing straightforward and accessible products and services that give people greater financial security. At a time when 20 per cent of UK adults – nearly 11m people – have low financial resilience, People’s Partnership has a very important role to play, and I’m excited to be a part of that.”
During his time as Chair, Babloo has been fundamental to the success of The People’s Pension, and he has overseen key decisions that helped pension savers build financial foundations for life, including the introduction of a charging structure which rewards members for saving more, and moving members of legacy products across to The People’s Pension, because it made good financial sense for them.
“From introducing holiday stamps for construction workers, to providing a workplace pension for millions of people across the UK, People’s Partnership has had some huge successes over the past eighty years and I’m proud to be part of that history. There is a very exciting future ahead for the organisation, and I am delighted to hand over to Jim as the new Chair of People’s Partnership, to continue to deliver our purpose to help people build better financial foundations for life.”
Notes to editor:
- People’s Partnership is a profit-for-people organisation, which changed its name from B&CE in November 2022. It provides The People’s Pension, a leading workplace pension scheme, serving over six million pension savers, from more than 100,000 employers, across the UK. As a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.