UK - Peter Scales, chief executive of the London Pensions Fund Authority, has joined the Board of Trustees of the Pre-Retirement Association.
Scales will help the charity to develop a financial education project aimed at pension scheme members who need basic financial training.
The project - ‘Learn About Money’ - has been supported by 17 big firms, including retailers Marks & Spencer and Sainsbury’s and oil company Total, said PRA CEO Stuart Royston.
Royston told IPE that Scales’ financial knowledge and understanding would be instrumental for the charity’s reach for the local authorities. The project involves tutorials for employees as well as educational material and the set up of intranet information pages.
“Essentially we are hoping that Peter will help us reach people in local authorities, who would benefit from our financial education project,” Royston said.
Scales, who helped set up the LPFA in 1989, said he was “delighted”.
“Good communication, both to scheme members and those who should be providing for their pension, is a vital element of current developments,” he said.
“Planning for retirement should start when you begin work with a decent pension scheme and continue through working life. Pension funds have a major role in encouraging that,” said Scales, who also chairs the NAPF Local Authority Forum.
Scales is also involved with the Institutional Investors Group on Climate Change.