Supermarket chief to head UK pension “task force”
UK – Peter Davis, chief executive of supermarket firm J. Sainsbury, is to chair a government-backed “task force” on occupational pensions.
The Employer Task Force on Pensions has been set up to advise the Department of Work and Pensions on increasing occupational and private pensions provision.
The setting up of the group is a result of the government’s green paper on pension reform last December. Explains work and pensions secretary, Andrew Smith: “The pensions green paper sets out our aim to renew the partnership between individuals, employers, financial services industries and government so that together we can ensure people retire with the income they expect.
“The Employer Task Force on pensions will play a key role in developing the employers’ role in the pensions partnership.”
The appointment of Davis, who is the former chief executive of financial services group Prudential, has been welcomed by the Norwich Union and the National Association of Pension Funds.
A spokesman for the NAPF said: “We are sure that Davis will do a good job, and the NAPF offers itself to play a role in the task force.”
He added: “However, how much longer is talk going to continue? Isn’t it time for action not more words?”
The government has not given any further details about the appointment of other members of the task force.