Wednesday, December 18, 2013

AMNT Meets Shadow Pension Minister Gregg McClymont MP at House of Commons

On 27 November we had a special Open meeting for AMNT members at the House of Commons. 

Beforehand there had been a brief tour of Westminster Hall.  Then  40 of us were in a Committee room to hear Gregg McClymont MP talk about the UK pension landscape and then take part in a Q&A.   

He reaffirmed Labour Party policy that they will be looking to introduce in any future Labour Government beneficiary governance for all pension funds including contract schemes. This is not a panacea for all wrongs but to ensure value for money.

He also wants a Fiduciary duty for everyone in the investment chain.

Next was presentation by David Heslop from the Pension Protection Fund who painted a positive picture of the PPF and they believe that if things go to plan they will not have to levy pensions by 2030.  

 Our AMNT  joint Chair’s Barry Parr and Janice Turner also gave an update on our recent activities and plans for the future.

Afterwards as a contrast, we went to the offices of fund managers Evercore Pan-Asset at Queen Anne’s Gate and had a presentation by the chair of their investment Committee RH John Redwood MP on the state of the global economy and what this means for pension funds. This was followed by a drinks and nibbles reception.
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