The Pensions and Lifetime Savings Association (PLSA) has announced that new chairs for its Defined Benefit (DB) and Defined Contribution (DC) councils have been elected.

Chris Hogg, chief executive of Royal Mail Pensions Trustees, will replace Frank Johnson (non-executive director) as chair of the DB Council, and Carol Young (head of pensions policy and products, at the Royal Bank of Scotland) will replace Richard Butler (managing director of PTL) and DC Council chair.

The councils are responsible for representing the wider interests of the organisations 1,300 fund members and 400 business members as well as helping the PLSA to develop policy positions on relevant topics.

The new chairs will take up office from 20 October 2017 at the PLSA's annual conference and exhibition.

Carol Young leads the RBS teams responsible for the flexible benefits programme for more than 60,000 colleagues and DB and DC pension arrangements for more than 300,000 members worldwide.

She chairs the CBI pension panel and is a governor of the Pensions Policy Institute.

Carol's career has spanned 20 years across in-house and consulting roles and includes a decade as an investment consultant.

She has served as an independent trustee on several boards, and currently represents the sponsor at UK DB and DC Trustee investment committees.

Carol said: "The PLSA undertakes a huge amount of valuable advocacy work for the pensions industry and I am delighted to have been appointed to chair of the DC Council."

"At a time when increasing numbers of people are looking to automatic enrolment to provide them with a better standard of living in retirement, it is vital that we continue to work to create an environment where this is not only possible but encouraged."

As chief executive of Royal Mail Pensions Trustees Limited for more than four years, Chris is responsible for providing strong governance and risk management to the Trustee boards of all Royal Mail's pensions arrangements, across three well-established plans with an AUM of around £10bn.

Chris said: "DB pension schemes have over £1.5 trillion worth of assets under management and provide millions of people with a secure income in retirement.

"I am extremely pleased to be appointed to chair the PLSA's DB Council and to help shape the policy work that the organisation undertakes on behalf of these funds."

First published 10.08.2017

Lindsay.sharman@wilmingtonplc.com