The People’s Pension outlines ambition to become leading workplace pension provider

People’s Partnership, provider of The People’s Pension, has today outlined its ambition to move from the auto-enrolment space to become a leading workplace pension provider, as it prepares to launch key propositional developments.

Over the past decade, the provider of the UK’s largest independent master trust, has driven real growth, with £22bn assets under management and an annual cashflow of £3.5bn.

The People’s Pension is currently building its proposition to support the broader needs that employers have for their workforce, with a programme of key propositional developments which will help to provide greater financial security for its 6.4 million members.

Following the introduction of a new financial well-being hub earlier this month, it’s Chief Commercial Officer, David Meliveo, is driving forward the development of new additional capabilities to start pricing at scheme level, a new set of retirement planning tools and member app to be launched later this scheme year, while also working to grow its financial wellbeing offering.  

Commenting, Mr Meliveo said:

“This is a really exciting time for The People’s Pension. Over the past decade, we’ve driven real growth, with £22bn assets under management and an annual cashflow of £3.5bn. We’re now evolving our proposition to support the broader needs that employers have for their workforce, aiming to move from the auto-enrolment space to become a leading workplace pension provider.

“In a time of economic uncertainty, it’s important that we build a financial wellbeing offering for our members, which we’ve begun with the launch of a new hub and the recruitment of a new Employer Engagement Team, that will support over 100,000 businesses and financial advisers who have put their trust in us. Our research shows that people don’t understand their options at retirement so we will launch a retirement planner and new app before the end of the scheme year, to ensure our members have all the information they need to plan for their futures.

“There’s no doubt that The People’s Pension has been a huge success in the auto-enrolment space, but as a provider founded for social good, that’s without shareholders and truly puts its members first, we feel there’s an important space for us in the workplace pension market.” 

The organisation has also implemented a new specialist bulk transfers team and online data transfer process and introduced pre-funding to make complex cases as simple as possible and mitigate out of market risk for members.


People’s Partnership appoints Brunel CEO to its Board

People’s Partnership, which provides The People’s Pension to one-in-five UK workers, has appointed Laura Chappell as a Non-Executive Director.

Laura is a prominent pensions industry figure, with 30 years’ experience in asset management, and is currently Chief Executive of Brunel Pension Partnership, which she helped to set up six years ago. Her appointment is the latest move to further enhance the Board’s expertise, reflecting People’s Partnership’s position as one of the UK’s largest workplace pension providers.

Commenting on her appointment, Laura said:

“I’m thrilled to be joining the Board at such an exciting time for both People’s Partnership and UK pensions in general. The fact that more than six million people look to us to help them build financial foundations for life shows we have a significant role to play in improving the wealth of the nation. I’m delighted to be involved in the next step of the organisation’s remarkable journey.”

Jim Islam, Chair of the People’s Partnership Board, said:

“Laura’s appointment is fantastic news for the millions of members of The People’s Pension due to her rich and varied experience. She shares our view that the savers’ best interests must be at the heart of every decision we take and is equally passionate about strengthening financial resilience across the UK.”


People’s Partnership appoints new Chief Commercial Officer

People’s Partnership1, which provides workplace pensions to more than six million people, has appointed a new Chief Commercial Officer to drive its commercial strategy forward as it continues to provide greater financial security for millions of people across the UK.

David Meliveo joins the ‘profit for people’2 organisation from Royal London, where he delivered a large growth in market share for its UK workplace pension. He will lead the organisation’s proposition, marketing, and business development teams to continue developing straight-forward, good value, and accessible products that can benefit everyone.

Commenting on his appointment, David said:

“People’s Partnership is a truly purpose-driven organisation, focused on meeting the real needs of people, so I’m incredibly excited to join its executive team and lead the commercial strategy for its next phase of growth.

“At a time when financial resilience in the UK is low, and only set to worsen with the current cost of living crisis, there is a place for an organisation like People’s Partnership to provide products that help millions of people lead financially stronger lives. I can’t wait to start playing my part in that.”

Earlier in his career David worked across a number of industries, with companies including GSK, easyJet, Autoglass, SAGA and the AA. 

Commenting on the addition to his leadership team, Patrick Heath-Lay, Chief Executive Officer of People’s Partnership, said:

“David is a dynamic leader, whose breadth of ideas and ability to get things done will be powerful strengths for the organisation. He has a wealth of experience driving brands and launching new propositions. This will be invaluable as we grow and continue striving to provide straightforward, accessible, trusted products and support that help people become financially stronger.”


People’s Partnership appoints Jim Islam as new Chair of Board

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.

Babloo commented:

“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.”


Leading workplace pension provider B&CE to change name to People’s Partnership

B&CE, the provider of The People’s Pension, is to change its name to People’s Partnership1, it has been announced2.

The announcement coincides with the 80th anniversary of the not-for-profit organisation, which began life providing holiday stamps to the construction industry during the Second World War.

Today, it provides a range of straightforward financial products, including The People’s Pension, which has more than six million members. With assets under management currently more than £17bn and serving more than 100,000 employers across the UK, it has grown to become one of the biggest pension schemes in the country.

Explaining the name change at a launch event, Patrick Heath-Lay, Chief Executive Officer, said it reflects the fact the organisation now serves people in every sector across the UK.

He said:

“We have always been the people’s partner. Founded for social good, as a not-for-profit – or profit for people – organisation, our customers, our members, are always our main focus. And whatever we do, that will never change.

“Our purpose is to help people, from all sectors across the UK, to build financial foundations for life, giving greater financial security to millions.

“So, this isn’t just a name change. For a company that has gone about its business fairly quietly in the past, this is a statement of intent. We want everyone to understand why and how we do what we do and to continue to be different in financial services.”

Reflecting on the history of the organisation, Babloo Ramamurthy, Independent Non-Executive Chairman of the B&CE Group, said:

“Ours is an organisation with a rich heritage stretching across nine decades. Our business was built on serving those workers who were underserved by the financial services industry.

“We’ve never forgotten those roots and the name People’s Partnership perfectly reflects how we build a long-term relationship with our customers and earn their trust through living our values and maintaining a clear focus on our vision.”


Notes to editors

1. 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 nearly six million pension savers 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.

2.The B&CE name will be retained for existing products it provides solely for the construction industry, including B&CE Charitable Trust.

People’s Partnership is the new name of B&CE, provider of The People’s Pension

2022 is a big year for us. We’re celebrating 80 years of creating simple, financial products, that started in the construction industry. And now, we’ve changed our name, to People’s Partnership.  

Throughout those 80 years, people have been at the heart of everything we do, and that’s why our new name, People’s Partnership, better defines us as a different financial services business. As a business without shareholders, we reinvest our profits to help customers and achieve better financial outcomes for everyone.

We’re thrilled about our new name – but it is just the name that changes – not the company.

People’s Partnership will be the provider of The People’s Pension, helping over 6 million people build up their pension savings.

Our Chief Executive Officer, Patrick Heath-Lay says: “During 10 years of The People’s Pension, we’ve grown into a leading provider of workplace pensions and, as People’s Partnership, we will continue to develop and grow for the benefit of our customers, who have always been at the heart of what we do.

“As People’s Partnership, our mission will remain the same – We’ll use our profits to provide straightforward, accessible, trusted products and support that help people become financially stronger.”

Watch a brief video that maps our remarkable history, through to becoming People’s Partnership.

Will the B&CE name disappear completely?

Our roots are construction based, so we’ll continue to offer some employee benefit products to that industry sector under the existing B&CE name, as well as The Charitable Trust.1

Are you a member of The People’s Pension?

If you’re a member of The People’s Pension, you may still see materials referring to B&CE, while we gradually change over to People’s Partnership. But you will hear our new name the next time you call us.

If you haven’t activated your Online Account, why not do it today?  It’s a very simple way to manage all your pension savings in one place. 

We’ve always been the people’s partner and always will be

1 Products under the B&CE name include Lump Sum Retirement Benefit (closed to new customers), Employee Life Cover and Employee Accident Cover. The Charitable Trust offers training grants to individuals and donates to organisations passionate about health and safety or occupational health in the construction industry.

B&CE announces the appointment of new Chief Human Resources Officer

B&CE1, provider of The People’s Pension, has appointed a new Chief Human Resources Officer to its executive team.

Deborah Finlayson brings a huge amount of experience to the organisation, having previously worked at IG Group, where she was Head of Culture, Workplace and Global Service Centre, and Aviva, where she was Group Head of Talent and Performance. She has also worked in the construction, drinks, banking and insurance industries.

B&CE, which will mark its 80th anniversary later this month, provides The People’s Pension to more than six million people – one in five workers – across the UK.

Commenting on her appointment, Deborah said:

“I’m thrilled to be joining the team on the continued journey of growth in a truly purpose-driven organisation. The pensions market is rapidly changing in response to lengthening life expectancy and increasing expectations for later life. 

“Our people will be at the forefront of delivering these changes and ensuring value to our customers and members. I look forward to learning about this exciting business and working closely with my colleagues across B&CE to deliver our strategy.”

Commenting, Patrick Heath-Lay, Chief Executive Officer of B&CE, said:

“I’m delighted to welcome Deborah to B&CE, as she brings with her a wealth of experience and knowledge. The success of every organisation is dependent on its people and Deborah has the skills to help us to build upon the excellent service that we provide to our millions of customers and members.”


B&CE announces appointment of new Group General Counsel

B&CE, the provider of The People’s Pension1, has appointed a Group General Counsel, to head up its legal team.

Graham Wrightson joins B&CE, which provides pensions to 1 in 5 of UK workers, from Stephenson Harwood, where he was a Partner in the Pensions Group. He will lead B&CE’s legal team and will advise the business on both pension matters and broader, strategic legal issues.

He has 25 years’ experience practising pensions law, providing advice to both corporates and trustees.  He was previously a pensions partner at Squire Patton Boggs and Mercer, where he was Head of Legal Consulting. He is also a Member of the Association of Pension Lawyers.

Commenting on his appointment, Graham said:

“It’s an exciting time to have joined B&CE, an organisation which continues to go from strength to strength and one which leverages that success by helping six million workers save for their futures.  I am looking forward to working with the legal team and playing my part in B&CE’s continued development, while helping people make proper financial provision for later life.”

Sue Hunter, B&CE’s Chief Finance Officer, said:

“Graham’s wealth of experience and leadership qualities will be a huge asset to B&CE. We’re delighted to have him onboard at a crucial time for the pensions industry, and an exciting time for B&CE.”


The People’s Pension Trustee Board announces new appointment

The People’s Pension1 has today announced the appointment of experienced investment professional, Emma Osborne, to the Trustee Board.

Emma has joined seven existing Trustee Directors and will oversee the running of the workplace pension scheme, which currently has assets under management of more than £17 billion and serves 1 in 5 of the UK workforce.

Emma spent much of her career in institutional investment management, which included being Head of Quantitative Investment Management and Derivatives for Credit Suisse Asset Management and Chief Investment Officer for the international assets of Chubb Corporation, a US insurance company.  She also has experience in risk management for banking and trading operations.

She served as Trustee and latterly Chair of Chubb’s UK DB scheme and is currently a member of the corporate trustee board for three Church of England schemes, as well as an independent member of the investment committee of another scheme. Her other non-executive roles have included being a director of insurance companies and a micro-finance organisation. 

Commenting on her appointment, Emma said: “I’m delighted to be joining the Trustee Board of The People’s Pension, a fast-growing scheme with a straightforward and fair approach to securing the financial futures of millions of members. I’m looking forward to working alongside a strong Trustee team.”

Current Chair of Trustees Steve Delo, who will hand over the reins to fellow Trustee Director Mark Condron next month, said: “Emma’s appointment is great news for the 5.9 million members of The People’s Pension. She brings with her considerable experience of the investment world and of governing large-scale institutions. I believe Emma will bring an invaluable new perspective to the Scheme’s governance.”


New head of Responsible Investment appointed

B&CE, provider of The People’s Pension1 has reinforced its commitment to investing responsibly with a new appointment to its Investment Business Unit.

The organisation, which provides a pension to one in five UK workers, has appointed Leanne Clements as its new Head of Responsible Investment.

Joining from the independent financial think tank, Carbon Tracker Initiative, where she was Head of Stewardship for the UK and EU, Leanne will develop B&CE’s approach to responsible investing in its management and stewardship of members’ investments.

Previously, she was Campaign Manager for The Association for Member Nominated Trustees and held senior responsible investment roles at multiple UK pension schemes.

Commenting on her appointment, Leanne said:

“I’m delighted to join B&CE at such an exciting time in its history, and at a pivotal time for responsible investment more broadly. I’m looking forward to building on the brilliant work the team has already done in this space and putting the best interests of the six million people saving with The People’s Pension, at the heart of our investment decisions.”  

Jonathan Cunliffe, Managing Director of Investments of B&CE, said:

“Leanne’s credentials and experience are first class and we’re so pleased that she has decided to join our expanding team. Responsible investment is at the very heart of what we’re about and her appointment is great news for our members.”