Topic: Business Announcement

People’s Partnership appoints new Customer Solutions Director

People’s Partnership has today announced the appointment of Victoria Willmott as Customer Solutions Director.

Victoria will join the leading workplace pension provider in January having previously worked at Coutts, where she was Head of Client Journey. In a 20-year career in customer relations and operations, she has held a number of senior roles and has previously worked at Barclays Bank and Deloitte.

She joins the provider of The People’s Pension at a time when it has surpassed £30 billion assets under management and has unveiled a number of recent improvements to its customer journey, including a new member app. Her role at People’s Partnership, which looks after the retirement savings of one in five of the UK workforce, will include overseeing service delivery to both its 6.8 million members and the 100,000 plus employers as well as client banking and charitable trust operations.

Commenting on her appointment, Victoria said: “I am delighted to be joining such a purpose-driven organisation with a strong track record of putting its members at the heart of everything it does. The People’s Partnership’s impressive growth, underpinned by its commitment to delivering excellence and exceptional member outcomes truly resonates with me.  With such an exciting future ahead, I look forward to contributing to its mission and collaborating with my new colleagues to further enhance the customer experience.

Angela Staral, Chief Operating Officer at People’s Partnership, said: “Victoria’s appointment is fantastic news for both the members and employers we serve. Her leadership and extensive experience will be instrumental in driving both transformational change and continuous improvement in the service we deliver to our members to help them build stronger financial foundations.”

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People’s Partnership appoints new Director of Customer Engagement

People’s Partnership1, the UK’s leading workplace pension provider, is pleased to announce the appointment of Allie Jenkin as its new Director of Customer Engagement.

Allie joins the company with over 20 years of experience in client-facing roles, having held senior leadership positions at Vanguard and Coutts. Leading People’s Partnership’s Customer Engagement operations, overseeing both the customer support hub and guidance teams, she will play a pivotal role in ensuring the company continues to deliver exceptional customer service.

Allie brings extensive expertise in crafting client service strategies, innovation, and scaling operations. Most recently, she served as Head of Client Service and Operations at Vanguard UK, where she was instrumental in developing and growing the company’s direct-to-consumer business and led transformational and large-scale programmes.

Her appointment at People’s Partnership comes at a significant time for the company, while the pension industry undergoes rapid changes. Allie commented on her appointment, saying:

“I am incredibly excited to join at such a crucial time for the company. I live by the philosophy ‘get the brilliant basics right and you can then earn the license to do more,’ and in this new role, there is a real opportunity to deliver great outcomes for customers by focussing on innovative engagement strategies.

“The team’s passion for pensions and its members is infectious, and I am honoured to be part of this leading organisation as we continue to grow.”

Angela Staral, Chief Operating Officer at People’s Partnership, shared her enthusiasm for Allie’s appointment, saying:

“Allie’s passion for client excellence is remarkable. She has a strong mission and purpose, both personally and in the business world. This role requires leadership and a transformational drive to positively impact customer outcomes, helping members make better informed decisions about their future.”

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People’s Partnership announces appointment of new Chief Finance Officer

People’s Partnership, the leading workplace pension provider, has today announced the appointment of Kay Smith as its new Chief Finance Officer.

Kay, who has a proven track record of leading the financial strategies of large organisations, was previously the Chief Finance Officer at Amwins Global Risks Group and over a career stretching across nearly two decades, has held senior roles at companies such as Finastra and Arthur J Gallagher.

She will be responsible for overseeing the organisation’s financial strategy to support its future growth.

Her appointment is confirmed less than two weeks after it was announced that The People’s Pension had surpassed £30 billion assets under management, confirming People’s Partnership as the biggest independent provider of workplace defined contribution pensions in the UK.

Commenting on her appointment, Kay said: “I feel privileged to join the People’s Partnership team, and I look forward to supporting the great work that my colleagues are doing in such a fast-growing organisation. It is such an exciting time for pensions, and I want to play my part in helping our 6.8 million members grow stronger financially.”

Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, said: “I am delighted that Kay has agreed to join People’s Partnership at a time when we are serving more people than ever before. Her appointment is great news for us and our members as I am confident she will be instrumental in supporting our drive for further growth in a consolidating market.”

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The People’s Pension unveils personalised video statements to simplify pensions for its members

The People’s Pension1 has launched new personalised video statements to help its members better engage with their retirement savings.

The video statements will be securely delivered by the biggest independent UK master trust directly to members via their online account and will include personalised audio and messages that are specific to the individual account. Within the video statement, the member will see how much they and their employer have added into their pot, any tax relief, and result of investment performance. The statement will also show the member the total amount in their pot.

The new personalised video statements will complement members’ annual statements which they will continue to receive either in the post or digitally.

This is the latest innovation in the last 12 months from the not-for-profit organisation, following the launch of a new set of retirement planning tools, member app and financial well-being offering.

Commenting on the launch of video statements, David Meliveo Chief Commercial Officer of People’s Partnership, provider of The People’s Pension, said:

“We continue to improve what we offer our members and the companies they work for, and I am incredibly excited to announce the launch of personalised video statements. It’s another significant step forward for our aim of making pensions simpler, more accessible, and engaging for our members.

“As a company that manages 1 in 5 of the workforce in the UK, it’s important that we find different ways for our hard-working membership to better engage their pensions, enabling them to make better informed decisions about their future.”

A recent study2 of marketing video statistics has revealed that 91 per cent of people have watched an explainer video to learn more about a product or service, and when asked how they’d like to learn about a product or service, watching a short video was preferable (44 per cent).

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People’s Partnership announces appointment of new deputy Chief Investment Officer

People’s Partnership, provider of The People’s Pension, has today further strengthened its rapidly growing investment team with the appointment of Phil Butler as Deputy Chief Investment Officer.

Phil joins the leading workplace pension provider from M&G plc, where he was a multi-asset portfolio manager in the Treasury and Investment Office. Starting his new role this week (December 2), Phil will be overseeing the investment operations and responsible investing teams at People’s Partnership at its City of London office, which opened at the start of the year.   

He joins at a time when The People’s Pension recently reached the £30bn assets under management milestone and is expected to reach £50bn in the next four years. Earlier this year the Scheme’s Trustee Board signalled its readiness to invest in private markets, due to the growing scale and expertise.

Commenting on his appointment, Phil said: “I’m delighted to be joining this fantastic organisation. The People’s Pension is one of the fastest growing asset owners in the UK and I have been impressed by their ambition and business outlook. I’m looking forward to working with such a talented team, one that is committed to securing the best outcomes for its 6.8 million members.”

Dan Mikulskis, the Chief Investment Officer at People’s Partnership, said: “Phil’s appointment underlines our commitment to building foundations for The People’s Pension becoming a world class asset owner. He will play a key role in helping People’s Partnership grow our team’s investment capabilities as we continue to make our increased scale work for members.”

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People’s Partnership appoints Director of Public Affairs

People’s Partnership, the leading workplace pension provider, has appointed Victoria Jonson as Director of Public Affairs to further strengthen the organisation’s voice and profile with policymakers and the wider business community.

Victoria will join in November from the British Business Bank, where she is currently the Senior Director of Public Affairs, managing the Bank’s relationships with Ministers, parliament, trade bodies and think tanks. She has previously worked for a number of trade bodies including R3 – the Insolvency and Restructuring Trade Body, where she won a number of industry awards.

People’s Partnership provides of The People’s Pension, to 6.7 million savers, which is one fifth of the UK workforce, and is the nation’s largest commercial provider of defined contribution workplace provider.

Commenting on her appointment, Victoria said:

“I am delighted to join People’s Partnership at such a crucial time for pensions policy, during which we hope to work alongside the Government to drive changes that deliver greater value for savers.”

“This is such a unique business – a not-for-profit with strong values and purpose which has already done so much to help its members become financially stronger. I am looking forward to the many exciting challenges ahead.”

Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, said:

“Victoria’s vast experience will be instrumental in further developing our influence and collaboration with Government, regulators and industry stakeholders. She will also play a key role in helping to raise awareness of our socially driven purpose to a wider audience.”

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People’s Partnership appoints new proposition director

People’s Partnership, a leading provider of workplace pensions, has strengthened its commitment to further improving its offering to members by appointing Kirsty Ross as its new proposition director.

Kirsty joins the provider of The People’s Pension from Aegon, where she was Head of Workplace Investment Proposition, and during her career in pensions has also worked for Royal London and Standard Life. She starts her new role at People’s Partnership this month and will lead a growing proposition team, which is currently developing a host of new innovations including retirement products.Head

In the past year the company, which manages assets of more than £29bn, has unveiled pricing at scheme level, a new set of retirement planning tools and member app and continues to develop its financial wellbeing offering.

Kirsty said:

“I am thrilled to be joining at such a pivotal moment for both the industry and in the development of the People’s Partnership proposition. Workplace pensions play an increasingly vital role in the financial strength of our society, and it’s clear that People’s Partnership are uniquely placed to support this. I’m really looking forward to working with the team to advance our proposition in a way that makes a genuine difference to our customers, our industry, and our society.”

David Meliveo, Chief Commercial Officer at People’s Partnership, said:

“The appointment of Kirsty as Proposition Director is great news for our 6.7 million members as she brings with her a wealth of experience and a track record of innovation. She joins at a really exciting time for The People’s Pension, as we have completed the first phase transforming our business and evolving our proposition from an Auto Enrolment to a full Workplace pension provider. Kirsty will now lead our next phase of growth and investment where we will start focusing on how we further differentiate ourselves from other parts of the market, alongside bringing our purpose to life.”

People’s Partnership worked with the leading financial services recruitment specialist The Return Hub for Kirsty’s appointment.

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Provider of The People’s Pension moving towards investing in UK assets

People’s Partnership1, provider of The People’s Pension to more than 6.7 million people, has today said that it is moving towards investing in private markets, including UK-based assets.

In its response to the call for evidence ahead of the Government’s first pension review, the profit for people organisation has stated it is reaching the necessary scale, as well as developing the in-house capabilities that are needed, to invest in assets such as infrastructure and real estate.

The leading workplace pension provider and Trustees of The People’s Pension, who manage £29 billion of their members money, have said that investing in such assets in a way that leaves maximum value in the hands of members is part of a long-term plan for the future of the business. The People’s Pension already invests 14 per cent of its main investment fund in both UK listed companies2 and Government debt.

Mark Condron, Chair of The People’s Pension Trustee Board, said:

“As Trustees, we firmly believe in diversified investment opportunities that present good, consistent returns for our members over the long term. We have been looking at private markets for some time and we are now approaching the scale where we believe we will be able to invest in them effectively. Investing in such assets has always been dependent on schemes such as ours reaching scale.

“The business is building a team of specialists that will enable us to overcome some of the hurdles we have faced with accessing private markets in a way that maximises value for members.

“We remain committed to the fund having a positive impact both on our members as well as the UK economy.”

Dan Mikulskis, Chief Investment Officer at People’s Partnership, provider of The People’s Pension, said:

“It’s important that policymakers and the industry look closely at the Australian and Canadian models as these countries deliver the outcomes the UK government is looking for.

“The People’s Pension is fast approaching having £30bn in assets under management and has built the scale to start seriously considering investing in private markets. We are currently in the process of hiring the investment team members who will make this possible.

“We are also advancing work both with commercial asset managers as well as asset owner peers, with a view to putting top-class proposals in front of our trustees to allocate a portion of our assets to private markets. We believe that with our own asset ownership capabilities in place we will continue deliver fantastic value to members’ pensions.”

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People’s Partnership and nudge announce partnership to improve financial education for millions of UK pension savers

The company behind The People’s Pension1 has become the first Master Trust pension provider to join forces with financial education experts nudge Global.2

People’s Partnership, a profit-for-people organisation, which provides The People’s Pension to one in five of the UK workforce, has agreed a partnership with nudge to provide impartial financial education to its 6.7 million retirement savers.

Recent research from nudge3 shows that nearly nine in 10 people (87 per cent) across the globe say retirement is their financial goal, yet 44 per cent don’t have a financial plan that extends further than three years. The new arrangement means that People’s Partnership is now using nudge’s personalised financial education to help increase their members’ financial literacy.

Commenting, David Meliveo, Chief Commercial Officer at People’s Partnership, said:

“Our partnership with nudge is fantastic news for our millions of members and further underlines our commitment to support members above and beyond retirement and provide  more holistic financial wellness support. The tools, quality of content and sophisticated customer engagement provided by nudge are market leading and will enable us to better support our members’ needs, and, ultimately, help them achieve better financial outcomes.”

Tim Perkins, CEO and Co-Founder, nudge, said:

“This announcement marks an important milestone for nudge. People’s Partnership share a similar mission to nudge, championing better financial outcomes – so together we can help even more people build brighter financial futures.”

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People’s Partnership outlines its plan for a fairer deal for pension savers

People’s Partnership, one of the UK’s leading providers of workplace pensions has today outlined what it thinks the nation’s future political leaders can do to make retirement saving fairer for savers.

The provider of The People’s Pension to 6.7 million people, has issued a four-point plan which it believes will help improve the retirement prospects of Defined Contribution savers, including the 11 million who have started saving through automatic enrolment since its launch in 2012. It believes that whoever wins the General Election on July 4 should consider its proposals, which it believes would put savers at the heart of pensions policy.

The not-for-profit provider is calling for political leaders to commit to:

  • A target retirement income. Too many people are not on track for an adequate pension in retirement. Government should set out target pension incomes, to be achieved through a combination of the state pension and workplace pensions saving. Without clarity over what the combination of state pension and workplace pension saving should achieve, it’s impossible to say what the level of either should be. Clarity is critical to helping UK savers plan for their future.
  • Competition should work in the interests of the saver. People’s Partnership supports measures to help judge whether or not pensions offer value for money. Regulatory policy should encourage healthy competition on the things that drive good outcomes for consumers. Too often competition is opaque and unhealthy, focused on brand and marketing. There should be transparent and standardised value for money metrics that enable anyone to make objective judgements about pensions and these should cover the whole market. These should focus on the outcomes that savers are likely to receive from pension saving. They should be front and centre on pensions dashboards.
  • Pension market reform. Building scale pension schemes should be a priority. Large, well governed schemes will offer economies of scale. They should offer better value to savers and be able to invest in a wider range of asset classes, helping deliver politicians’ ambition for pension schemes to invest more in UK illiquid assets. Larger schemes, held to a new quality standard should be enabled to sweep up the small pots that have proliferated as a result of automatic enrolment. These schemes should be the core of a more consumer-oriented market.
  • Economic role of pension funds. Politicians of all parties are right to focus on the role of pension funds as investors in the UK economy. This focus should not come at the expense of savers, who need the best possible return from their invested pension savings. Any policy to increase UK pension funds’ domestic investment should place the interests of savers at its heart. 

Patrick Heath-Lay, Chief Executive Officer, of People’s Partnership, said: “As a profit for people provider that looks after retirement savings of a fifth of the UK workforce, as well as being an organisation that was set up for social good, we are committed to standing up for savers. Although workplace pension saving has come a long way in the past 12 years, the system still doesn’t work in the very best interest of savers.

“We believe that, if implemented by decision makers, our four-point plan would go a long way to improving workplace pension saving for millions of people.”

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