McClymont becomes deputy co-chairman of FCA disclosure group and new PQM chief
Gregg McClymont has been appointed to senior positions at the Pensions Quality Mark (PQM) and the Financial Conduct Authority's (FCA) working group on institutional transaction costs.
The former politician is Aberdeen Standard Investment's head of retirement and a visiting fellow at Nuffield College, Oxford.
At PQM he will become chairman on 18 September, succeeding Adrian Boulding who steps down after more than two years in the role.
He is now also a deputy co-chairman at the FCA's working group on costs and charges alongside Local Government Association head of pensions Jeff Houston.
The working group, which is chaired by Chris Sier, will seek to agree a standardised disclosure template for ‘mainstream' asset management services, which builds on the work already done by the LGPS and the Investment Association.
It will also seek a consensus on how use of the template will be promoted, how accuracy will be ensured, and how the template would then evolve over time.
McClymont said: "I am pleased to be working alongside Chris Sier and other stakeholders in examining the complex issues involved in building a robust transaction costs disclosure methodology."
As the new PQM chairman, he said he wanted to build on Boulding's "legacy" of work and explained it is important PQM continues to recognise employers that offer solid schemes for retirement.
Outgoing PQM chairman Boulding said: "Having worked hard with the PQM board to actively raise defined contribution pension scheme standards across the UK, I am pleased to be in a position to handover the chairmanship to such a well-respected and knowledgeable candidate.
"As a member of the PQM board and in his professional life, Gregg has worked hard to raise people's confidence in workplace pensions and I look forward to following the organisation's progress in the future."
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