UK National Employment Savings Trust appoints chief executive
The UK’s National Employment Savings Trust (NEST) will appoint its head of product and marketing as chief executive after Tim Jones steps down later this year.
Helen Dean will take on her new responsibilities in the autumn.
Dean, currently an executive director, becomes NEST’s second chief executive.
She was initially seconded from central government to the provider while it was still called the Personal Accounts Delivery Authority (PADA), before the official rollout of auto-enrolment.
Dean began her secondment as interim director for policy and product development and became a permanent member in 2014, in a continuation of the role.
Before her first secondment to PADA, Dean spent 30 years as a civil servant, lastly within the Department for Work and Pensions (DWP) developing the policy that laid foundations for the creation of NEST.
She also worked on the creation of the pension forecasting IT system, and policy that introduced the second-state pension, which allowed accrual based on national insurance contributions.
Jones – who leaves after eight years with the provider, having served as its founding chief executive – will step down later this year.
This week, NEST revealed its plans for its future offering after the UK government removed compulsory annuitisation.
Dean will now oversee the implementation of a complex blend between income drawdown, deferred annuities and cash accounts, as the provider aims to create a default system for members.