Paul Myners has been appointed as Chair Designate of the Personal Accounts Delivery Authority.
Myners, who will take up the role from 1 August, has extensive experience in the financial sector including directorships at N M Rothschild & Sons and NatWest, and as chief executive of Gartmore. He is chairman of the Guardian Media Group and Land Securities Group with previous non-executive positions at Marks and Spencer; O2; Orange; PowerGen and Aspen Insurance and membership of the Financial Reporting Council. He is also chair of the Low Pay Commission.
Myners said: “Setting up a trust-based, occupational pension scheme, with up to 10 million members, is going to be a major undertaking, and I look forward to getting on with the role.”
The delivery authority will offer independent advice to government, and with parliamentary approval, will be responsible for getting personal accounts up and running and ensuring employers meet their new obligations.