Aberdeen Asset Management has appointed former shadow pensions minister Gregg McClymont to the newly created role of head of retirement savings.
McClymont’s role encompasses defined contribution (DC) pensions strategy, research and implementation – with a particular focus on developments in retirement savings.
In addition to his role as former shadow pensions minister, McClymont was previously Labour MP for Cumbernauld, Kilsyth and Kirkintilloch East, between 2010-2015.
Commenting on his position at Aberdeen, he says: “This is a crucial moment for pensions and savings. The end of compulsory annuities poses a huge public policy challenge. Success depends on individuals having access to high quality, easy to understand, income and savings products at a fair price.”
He adds that in working with Aberdeen he hopes to help savers succeed in navigating the newly developed pensions flexibilities.
Aberdeen manages assets of £330billion (€472.3 billion) on behalf of institutional and private investors, as at March 31, 2015.
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